Like it, a point I would add is that payment by the hour/week/month/year is the antithesis of capitalism. Capitalism is the acknowledgement that all things have a subjective value, never an objective value. To demand that an employer or employee set an objective value on the time they exchange is to reject time's subjective value. One year I may feel I have more value than the other, or even second to second(my time is suddenly more valuable if a family or friend called and wants me for some reason). This idea of pay for the time is how communism starts its infusion into society.