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> Paying someone less than the value they provide is what makes capitalism work. Not even CEOs or founders are exempt from this law, though I'm sure more than o
by beaconstudios 9y ago
> Paying someone less than the value they provide is what makes capitalism work. Not even CEOs or founders are exempt from this law, though I'm sure more than one skates awfully close.
But who says what the value you provide as a worker is, if not the job market? The original complaint from Marx and pals as I understand it, is that the profit generated by the company represents the stolen labour value. So does that mean that as long as a company takes no profit (or presumably just doesn't pay dividends, given that carrying over profit is just a way to maintain cash reserves) that there is no exploitation?
The whole labour value criticism just doesn't add up.
- CryptoPunk 9y ago>>So does that mean that as long as a company takes no profit (or presumably just doesn't pay dividends, Dividends come out of profits. According to Marxist gobbledygook, any profit, meaning return to the shareholders, is theft from the workers, which implies investors should get nothing for investing. This sham of an ideology is responsible for tens of millions of deaths.
- beaconstudios 9y agoI know, but I'm always open to someone smart on this site opening my eyes to a pragmatic and sound interpretation of communist economics. It just hasn't happened yet and I remain sceptical that there's anything to it.