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Why? Labor with capital is incredibly more useful and productive than labor alone. We aren't any smarter today than people a couple hundred years ago, the main
by jxidjhdhdhdhfhf 5y ago
Why? Labor with capital is incredibly more useful and productive than labor alone. We aren't any smarter today than people a couple hundred years ago, the main difference that makes our lives much easier is we've built up various forms of capital over the years.
- WastingMyTime89 5y ago> Why? Because people who owns the capital don't have to work and still hugely profit from society that's why. Also we innovated and built machinery not capital. Don't confuse the abstraction we use to track ownership with what is actually owned.
- jxidjhdhdhdhfhf 5y agoWe built machinery, processes, IP, etc using saved and invested capital. That machinery wouldn't be built without the capital. And thus labor would be nearly valueless. The machines and processes also stop functioning when the ownership structure is destroyed as we have recently seen in the Venezuelan oil wells. With capital its very much the virtual (ownership) driving the creation, maintainance and operation of the real (machines, processes, etc).