Monday, December 10, 2007
It seems to me that economists should be able to quantify the value of the work of a profession to society based on the larger societal impacts of that group temporarily ceasing their work. We'll call this variable V(s). In France, when the transit workers go on strike the nation is temporarily paralyzed. High V(s). If the New York City police department went on strike, serious trouble. They have a high V(s). I hear that the Screen Writer's Guild has been on strike for a while now. Is anyone outside of LA missing them? V(s)=?