Category: labor
Quotes of Category: labor
From Smith's principle that labor is the true measure of price-or, as Warren phrased it, that cost is the proper limit of price-these three men {Josiah Warren, Pierre-Joseph Proudhon and Karl Marx} made the following deductions: that the natural wage of labor is its product; that this wage, or product, is the only just source of income {leaving out, of course, gift, inheritance, etc.}; that all who derive income from any other source abstract it directly or indirectly from the natural and just wage of labor; that this abstracting process generally takes one of three forms, interest, rent, and profit; that these three constitute the trinity of usury, and are simply different methods of levying tribute for the use of capital; that, capital being simply stored-up labor which has already received its pay in full, its use ought to be gratuitous, on the principle that labor is the only basis of price; that the lender of capital is entitled to its return intact, and nothing more; that the only reason why the banker, the stockholder, the landlord, the manufacturer, and the merchant are able to exact usury from labor lies in the fact that they are backed by legal privilege, or monopoly; and that the only way to secure to labor the enjoyment of its entire product, or natural wage, is to strike down monopoly. book-quotepropertyeconomicslaborThe idea of labor, of hard work, leading to increased productivity was so novel, so radical, in the overall span of Western history that most ordinary people, most of those who labored, could scarcely believe what was happening to them. Labor had been so long thought to be the natural and inevitable consequence of necessity and poverty that most people still associated it with slavery and servitude. Therefore any possibility of oppression, any threat to the colonists' hard earned prosperity, any hint of reducing them to the povery of other nations, was especially frightening; for it seemed likely to slide them back into the traditional status of servants or slaves, into the older world where labor was merely a painful necessity and not a source of prosperity." book-quotelaborprosperityradicalism