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We both value labor over capital and capital over labor depending on the market. The market is not either/or across the board. Not all labor is equal. As a som
by malandrew 7y ago
We both value labor over capital and capital over labor depending on the market. The market is not either/or across the board.
Not all labor is equal. As a somewhat specialized software engineer, my labor is generally valued over capital.
What makes no sense is to expect all labor to be valued over capital since much of the labor is not the labor you need and you need to apply your capital to get the labor you do need.
- defterGoose 7y agoI think in this thought experiment we are doing, it is reasonable to assume that all labor is labor you need, since someone has agreed to do that labor for economic gain. We're not talking about abstract labor, like someone spending time doing shitty art that no one wants to look at.