Has Economics Lost Its Soul? Rethinking the Value of People at Work By Ulf Johanson and Emmanuel Aboagye In 1642, in the middle of the Thirty Years' War, a captured field marshal was worth 20,000 thalers....
Has Economics Lost Its Soul? Rethinking the Value of People at Work
By Ulf Johanson and Emmanuel Aboagye In 1642, in the middle of the Thirty Years' War, a captured field marshal was worth 20,000 thalers. A colonel was worth 1,000. An ordinary private, 8. Captors weighed the cost of keeping a prisoner alive against the revenue his rank could fetch, and when states later stripped soldiers of that market value, casualties rose (Frey & Buhofer, 1986).
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