PoliticalChic
Diamond Member
- Thread starter
- #21
No, Expat_Panama, that's not right at all. If you really think about it, you would agree with my statement; investors only purchase the productive efforts of labor, and management only manages the productive labor. ONLY productive labor creates intrinsic value. I don't argue that other "hangers-on" do not subsequently extract or confiscate value from this labor, but all material things of value comes from original labor.Why do you believe Freemason, that investors don't manage and work? Ooops, that time I didn't think. Seriously, saying "...ALL wealth--came from the efforts of laborers.." is like saying "...ALL wealth--came from the efforts of investors..." or "--of management..."
Nonsense.
1. The ideas are the basis for success....labor can be replaced, and upgraded or even obviated via mechanization.
For some reason, folks like you will do every twist and turn to avoid giving the credit where it is due.
a. Wages equal the marginal productivity of labor, meaning that the outcome in terms of income and wealth is a function of what one does. It is also a function of how many people do the same.
b. Babe Ruth, being asked how he felt holding out for a salary higher than that of the US President Hoover: Why not, I had a better year than he did.
2. So, as productivity and skills increase, workers earn more. Productivity of workers in competitive markets is what determines the earnings of most workers; and it is not an accident that labor earns about 70% of the total output of the American economy, and capital earns about 30%.
Ferrara, "America's Ticking Bankruptcy Bomb."