Re: Don't Forget Mises -- and Dump the Third Way!

From: michael price (nini_pad_at_yahoo.com)
Date: 10/01/04 

Date: 1 Oct 2004 03:14:17 -0700

"Mark Monson" <m_monson@ztech.com> wrote in message news:<hQ44d.54980$zT6.8138@bignews5.bellsouth.net>...
> <royls@telus.net> wrote in message news:414dc561.5555013@news.telus.net...
> > On Fri, 10 Sep 2004 09:20:23 -0500, Albert <alwagner@tcac.net> wrote:
> >
>
> > >Of course not. The capitalist is 'himself'. The capitalist owns
> > >everything capable of being owned, except land.
> >
> > No. Capital is only the products that are used or capable of being
> > used for production.
> >
> > >What are you talking about?
> >
> > The dictionary definitions of the words you are misusing.
> >
> > >Because of the heavy semantic burden of the word 'contribute', to
> > >use it, rather than the more accurate 'allocate', serves only to
> > >obfuscate.
> >
> > Garbage. "Allocate" does not convey the central fact that the
> > capitalist is partly responsible for the result, which is production.
>
>
> This discussion must be based on assumptions about how capitalists obtain capital in
> the first place. In a system where the only way to obtain wealth is by producing
> it, capitalists are simply workers who invest part of their wages in tools for
> others to use in production.
>
> MM

  Not true, consider the case of the bank robber who takes money out
of a bank, then has to decide whether to invest it in a business or
spend it. If he takes the former course then he can create value
(although obviously that doesn't mean he didn't destroy some
by robbing the bank in the first place). The fact that someone is
allocating resources means they are partly responsible for the
value created as a result, regardless of how they got the resources.
That said there would have been more value created if they hadn't
stolen them.

Relevant Pages

  • Re: Capital Includes Goods in Stock
    ... That will be news to the capitalists... ... >> Then you do agree that the line of credit increases production for ... function of credit for the buyer are much the same, ... Then neither are consumer goods in producers' hands. ...
    (sci.econ)
  • Re: RAISE THE MINIMUM WAGE TO $120 AN HOUR!!
    ... >society with two people, Robinson and Friday. ... >capitalists, and assume perfect competition. ... >continuously differentiable production functions. ... > which they can exchange with each other, namely, labour, and the ...
    (sci.econ)
  • Re: Democracy with Chinese characteristics
    ... a) There may be dynastic cycles, ... production they usual distinguish "petty private production" (such as ... small farmers), and big capital, the capitalists. ... that peasant culture naturally clings to their "god's little ...
    (soc.culture.china)
  • Re: Capital and Mark Monsons Land
    ... all gains by unions and such which control wages but not ... income of all workers fell, ... Knowledge and a mode of production that consumes most of their ... workers would not be relying on capitalists to ...
    (sci.econ)
  • Re: Land, Labour and Capital Taxation....
    ... > the economic rent of natural resources for public purposes other than ... > No. Capitalists seek private appropriation of publicly created value ... > fundamentally socialists or capitalists. ... > landowner privilege and taxation of production, ...
    (sci.econ)
Quantcast