Then define it. I read the definition. It is clear for all to see. Show me my misinterpretation.
And it seems that the truth is hard to swallow for you. Well get another job. Shouldn’t be hard for you as you have already bragged about your education and work experience.
You never cease to amaze.
I have literally had 3 job offers in the last 8 months without even really looking. It’s really not hard to get a job.
multiple people have already done this in this thread.
Ah yes the constant diatribe and trope about how all educated economists are idiots and have no credibility.
Why are they all published and successful and you are not? If you have all the answers and the keys, why have you not taken it mainstream? Why have you not published? Why have you not been successful?
You know it all and have it all figured out, but you can’t apply it or what?
I don’t expect a coherent answer back. These questions are rhetorical.
Where did you get your MBA or degree in economics?
It’s proof that I have the education and experience to explain what the word means within the context it’s being used.
Look, I know you get shit on a lot here, but you can’t be serious with this, right?
“redefine”
No one is redefining anything. This is a classic example of what I’ve told you on multiple occasions. You do not have a base level of understanding when it comes to economics/accounting, which is why these threads are always a dumpster fire. I wasn’t joking when I said intro to cost accounting would have saved us time here.
Somehow my facebook feed is filled with Flat Earthers and people who believe that there are extra planets in our solar system. It’s really funny how their belief in knowing the “truth” that everyone else doesn’t mirrors Castoli.
Edit: And they all love to call people sheep.
Nice dodge. No, they’ve only given me their personal definition. What they think and would like to believe it is.
Then get one that doesn’t require you to put things together that will later be used to kill people.
Wrong. It is the economic/accounting definition.
Do I believe in extra planets and a flat Earth? No, but you believe in orthodox economists, no matter how long their predictions have been wrong for decades.
Production is the combining of parts material and immaterial to create output which ideally is a good or service. which has value and contributes to the utility of an individual.
Definition from Wikipedia.
You do realize aerospace defense involves more than things are purely offensive weapons right?
How short was the bus you had to ride?
Exactly. Which is pertinent to a thread on economic theory.
Dude, stop.
Considering alcohol renders one physically and mentally weaker therefore not able to “contribute to utility” it’s not a means of production by this definition….
I would love to be a fly on the wall witnessing an average Zep day.
“You’re wrong, doc. WebMD says this.”
“You’re wrong, attorney. Law.Cornell says this.”
“You’re wrong, plumber. Wikihow says this.”
Amazing.
Nah, let’s just go with the definition on Wikipedia because we can’t admit to not knowing something.
Things We Would Classify As Production:
The raw materials and labor used to create the bar.
The creation of the glasses
The creation of the stools
The alcohol itself is a part of COGS ie production.
Overhead IE Not production:
Mixing drinks
Indirect costs, which is what mixing drinks is, are not generally classified as production because they aren’t measurable and/or attributable to a specific output. For example, your wage can not be directly linked to each of the drinks you made. What output would restocking shelves be attributed to? Cleaning? Bathroom breaks? Etc… That’s why it’s overhead ie an indirect expense categorized in a different place on the P&L.
The Wikipedia (lol) definition is (hopefully) referring to service related outputs like a tax accountant providing a tax service (a specific output) where time spent preparing the return is directly attributable to said return. It is not referring to indirect overhead.
Look man, you’re out of your depth here. Just move on. At least when you talk about MMT it’s such a fringe concept no one here is an expert on it.
I’m a freakin accountant.
And I have a MBA.
But, we are both indoctrinated fools - brainwashed by education and the man.
It is taking @castoli711 an unusually long time to find suitable(at least, to him) answers on YouTube. I hope everything is okay in the @castoli711 home.
You know Zep. He’ll wait two weeks and then just start a new thread on the exact same topic and pretend none of this happened.
Inflation is a monetary phenomenon, you embarrassment. If it is not, then go on and explain how inflation would occur in a barter economy. Go on, let’s hear this knee slapper. The fact you don’t trade it for a fund is hilarious; confirms what I said.