- Jun 12, 2001
- 50,422
- 14,333
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I'm kind of taken aback that the leftists on this forum don't know that the only real capital is labor.
You can't extract gold or oil from the earth if you don't have labor. You can't build anything without labor. You can't even do banking without labor.
No amount of financial capital in the whole world means anything without the labor of someone to give it value.
And that's not Marxism, that's capitalism too. The whole area where those ideologies differ is if the labor itself creates the value, or if it is what the labor can be sold for that creates the value.
But in the end, it's the labor that the creates the value. The only question lies in how it is valued.
Maybe the problem though is that some view a scarcity of labor as increasing the individual laborer's value. That's a tempting thought, and not incorrect by itself. The issue there is how that impacts the ability of the laborer's value to be compensated.
You can't extract gold or oil from the earth if you don't have labor. You can't build anything without labor. You can't even do banking without labor.
No amount of financial capital in the whole world means anything without the labor of someone to give it value.
And that's not Marxism, that's capitalism too. The whole area where those ideologies differ is if the labor itself creates the value, or if it is what the labor can be sold for that creates the value.
But in the end, it's the labor that the creates the value. The only question lies in how it is valued.
Maybe the problem though is that some view a scarcity of labor as increasing the individual laborer's value. That's a tempting thought, and not incorrect by itself. The issue there is how that impacts the ability of the laborer's value to be compensated.