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Labor is not free, except one’s own. To get other people’s labor, you have to pay them wages greater than the profits they could earn on their own and greater than the wages any other employer would pay them. Previously unowned land is free, which is how it should be.
The original and primary form of labor income is PROFIT not wages. Without capitalists, workers producing and selling commodities earn SALES REVENUES not wages. Without capitalists there are no wage payments or expenditure for capital goods. Hence, NO COSTS to deduct from sales.
Thus, in the absence of capitalists, 100% of sales revenue is profit. And because without capitalists accumulated capital in money terms is zero, the rate of profit on capital is infinite.
Capitalists create wage payments and expenditure for capital goods, hence costs to deduct from sales revenues. They also accumulate capital on the balance sheets of their firms. Their activity thus reduces profit both as a percentage of sales and of capital, and raises wages.
Capitalists are the primary producers. Wage earners are the capitalists’ HELPERS in producing the CAPITALISTS’ products. Just as we credit Columbus with the discovery of America, and not his crew members, we should credit Ford, Rockefeller, et al. with the products of their firms
It is they who supply the guiding, directing intelligence at the highest level, who set the goals and assemble the means to achieve them. Thus, it is they who are responsible for what is accomplished. The wage earners are fully paid for their help when they receive their wages.
For additional antivenom treatments for Marxism/Socialism go to amzn.to/2N44uTu and for 99¢ buy and read the title immediately below.
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