ECONOMICS OF LITERATURE.
ART FACTORS OF PRODUCTION
PEN (Figures of speech).
In economics we refer to it as capital
Here the pen is referred to as man made asset which is used in production. it is a man made wealth use to produce other goods and services.
Also here the figures of speech can be referred to as capital because it an integral tool to write better it also a starting step to scribble better.
It is durable: because it last long for it possessor as it produces other wealth.
It is a subject to depreciation: it can be converted to cash (write ups).
It ensure large scale of production.
the reward for it is INTEREST I explained earlier that most writers write for money.
ART FACTORS OF PRODUCTION.
MUSE (interest and inspiration)
This controls all other factors of production. Be it interest or inspiration, it controls the labours(writers or poets).
Actually have read so many articles that says don’t let your muse control you but before a write can write he or she has to be in the mood with the interest to write.
It controls other factors of production.
It bears the risk: here the risk it can encounter is the risk of loss in form of a critique against it work, and the profit will be in form of felicitations on it works.
it ensures effective management.
it ensure effective organizations.
ART LAW OF VARIABLE PROPORTION.
This states that , a successive unit of variable factors (human, pen) is added to a fixed factor(brain), output will increase at first but it will get to a point that an additional unit of variable factor will be added which will result to decrease in output.
Paciolo Pen Saint.
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