I was just thinking: The recent election here in Sweden was supposed to be about jobs. The society which lives off making things has become unsustainable, since everything nowadays is made in China anyway. So we have to live off services. But what is that, and how is it more valuable?
The explanation, ironically, is a take on Marx: Work is creating value for others; you get paid in proportion to the value you create. So cleaning someones home is a real job, as is posting ads on peoples blogs - if there is someone who values it, and is willing to pay for it.
Of course, you may ask yourself why a broker on Wall Street should be paid millions, but a person taking care of old people gets less than a thousand of that (didn't say in what currency). The explanation is in the same phrase... I'll get back on that.
(updated) I came across a note from 10 years ago, I said the same thing... to myself.
The Innovation Metric Bill Hewlett and Dave Packard Used
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Every public company in the technology industry measures innovation
spending the same way. R&D as a percentage of revenue.
Why? Because Wall Street track...
6 månader sedan

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