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Politics : View from the Center and Left

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To: TigerPaw who wrote (10616)	2/2/2006 11:24:16 AM
From: thames_sider	Read Replies (1) of 541985

Years of labor should also be treated as capital in the business. Surprisingly enough, it's you I disagree with here. Firstly, I disagree with the tenet (from which this seems derived) which basically underpins much of Marxist economics, attributing the value of goods to the labour input without regard to the market, nor necessarily to the relative values of different labour input. The mud-pie/cherry-pie example is sufficient to dismiss that. More relevantly, however, those years of labour are already paid for by the business. Why should they be additionally treated as capital in the business? Sure, workers might be entitled to shares in a business as a part of their contract, but this would be stated and probably taken into account: I don't see why they would be entitled to a chunk of the business under other circumstances?

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