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And laborers generate a profit when their cost of living is below their total wage. At that point the cost of producing their labor (food, water, shelter) is be
by tathougies 7y ago
And laborers generate a profit when their cost of living is below their total wage. At that point the cost of producing their labor (food, water, shelter) is below their revenue.
- kiliantics 7y agoThat is not a profit because it is not generated from capital. "Cost of producing labour" is not just food/water/shelter/etc. it is the literal time you have to give up in order to perform the labour. Someone who owns capital gets the profit which the capital generates at zero cost or time spent.