Sunday, June 12, 2005

Bad payer

Cafe Hayek: Talk About an Ungrateful Patient!
But if the labor theory of value were correct, the physician’s services would be more valuable to the patient the longer the time the physician devotes to treatment. If the physician had taken a week rather than a mere three days to bring about the cure, the patient should be willing to pay more – and to pay more still if the physician had taken an entire month to cure the patient.

I have been wondering why should anyone try to do the work in time. The real problem seems to be that most of the human labour is measured by time not by eficacy.