, 10 tweets, 3 min read Read on Twitter
Here’s a challenge to your belief that under capitalism the need of workers for wages and the greed of capitalists for profits drives wages to minimum subsistence.
The challenge is titled “The Irrelevance of Worker Need and Employer Greed in the Determination of Wages.”
It’s on yesterday’s Mises Wire. Click here bit.ly/2wtNOOJ or below to access it.
The article/challenge is taken from my Capitalism: A Treatise on Economics, a book that covers practically everything relevant to the capitalist system. (It's for sale at amzn.to/2PM19ut.)
The article/challenge also appears in my “Marxism/Socialism…” available at amzn.to/2N44uTu.
Read more in these books to learn how profit-seeking businessmen and capitalists progressively increase the supply of products relative to the supply of labor and thereby reduce prices relative to wages, which constitutes rising real wages.
Learn how this is what brings about a shortening of the working day, improved working conditions, and the abolition of child labor. Learn how this means that economic progress is the result of voluntary social cooperation, based on mutual gain.
Learn how your present philosophy represents the worship of gun violence. Because that’s what you believe is essential to raise the standard of living of the average worker. Guns are what stand behind the labor and social legislation you never tire of praising.
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