[lbo-talk] Delong puts the smackdown on ol' Whiskers

Mike Ballard swillsqueal at yahoo.com.au
Wed Apr 6 01:45:10 PDT 2005


De Long wrote:

"If you want to make a compelling criticism of economic and social relationships, you cannot do so by saying that there is Marxian 'exploitation' --which exists wherever workers are paid less than the average product of labor. You have to, instead, inquire into the origins of the wealth and property rights on which the proprietor class's income is based. The labor theory of value is simply a red herring."

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The origins of wealth are nature and labour. Ownership of nature i.e. land, resources and the social products of labour (which come from human resources) are what wealth is.

Are there any other sources?

Best, Mike B)

****************************************************************** Live in harmony with the Earth. Abolish the wages system. http://profiles.yahoo.com/swillsqueal

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