working class

[Wojtek Sokolowski]

At 11:54 AM 7/3/2002 -0700, you wrote:
>Wojtek Sokolowski wrote:
>
>>In this conceptualization, consistent with Marx  - working class derives 
>>its income mostly from market value compensation for the labor power they 
>>sell, regardless of the amount of that compensation.  An expert 
>>technician, engineer, architect, or a professional can earn $200-$300 an 
>>hour and still be considered working class.  A capitalist's remuneration, 
>>otoh, is mostly rent derived from his/her monopoly/celebrity status.  The 
>>border line between the two is somewhat vague, as with most things in 
>>real life.
>
>Let me get this straight. A "capitalist" rents his labour power, a worker 
>sells his labour power. But the class distinction between Bill Gates and 
>Bill Bartlett is entirely down to his celebrity status. The fact he has a 
>share portfolio worth billions doesn't figure in your class definition at all?
>
>Bill Bartlett
>Bracknell Tas

Capitalists do not rent their labor power - their remuneration is based on 
their monopoly position i.e. celebrity status or actual control of the 
process of production - which in economics is called "rent."

wojtek

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