Quote:
Originally Posted by randolph
Tracy
Yes, true enough, however, lots of people have ideas but nothing comes of them. Why, because no labor occurred. To implement an idea, some form of labor must occur. Money is stored labor. The person with an idea goes out and finds financing (stored labor) to implement his idea. Let's say it is drilling for oil where he thinks it can be found (his idea). OK, he contracts with an oil drilling company to drill the well. The owner of the drilling rig has a crew (labor) to use equipment made in a factory by labor built by financing (stored labor). It always ends with labor being the basis of enterprise. Capitalism is simply the manipulation of stored labor. Obviously, the person with the idea that turned into an enterprise has a right to the benefits of that enterprise. He also has the responsibility to fairly share the benefits with the workers who made the enterprise possible.
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If I had a drilling crew I'd be punching holes in the earth at random since I have no clue where to drill. The guy who knows where to drill has a valuable skill and should be paid well for it. How many people can work on an oil well? Probably quite a lot with a little training. How many people know where to drill? Probable not so many, and with a lot of training. Simple supply and demand. If you try and unbalance the supply and demand equation then you're left with something unsustainable.