Discuss Political Economics

Lincoln is correct. People who labor, and the labor they produce, is of greater value than the capital generated. One depends on the other. Likewise labor can occur without generating capital, but all capital rests on the back of someone's labor. If you want to protect capital, start by looking out for people.

I agree with it, of course. None of the businesses that are supposedly so beneficial to us would be anywhere without the workers that power them. The workers do the real work.
Ringo

Gracchus said:

"Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration."

What do you think of this idea?

Click to expand...

Labor IS capital.

What do you think of Henry George's idea that the real conflict is not between labor and capital but between both of those and the owners of land and other natural resources?

Gracchus said:

"Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration."

What do you think of this idea?

Click to expand...

Capital is investment, investors take risk; labor does not. If investments don’t receive an adequate return for their risk, nobody will invest. When nobody invests, labor sits idol and nothing gets done.

Capital is superior to labor, because it is easier to get labor than to raise capital.

Talking about whether labor or capital is superior is like talking about whether a car needs an engine or wheels more. Neither will get far without the other.

Capital takes more risk in using it, but the life of a laborer involves more risk and sacrifice than that of an investor.

Capital in the form of money is labor in reserve. Not all capital is in the form of money, as any barterer will tell you. Also the capital of the laborer is...his/her labor. This is such an important subject, especially for those who lack capital.

Percivale said:

What do you think of Henry George's idea that the real conflict is not between labor and capital but between both of those and the owners of land and other natural resources?

Click to expand...

I agree with that. We've tried capitalism, and we've tried socialism. Let's give Georgism a shot.

Mr. Biden wants to double the capital gains tax. That'll help the economy.

Capital gains tax: Biden will seek to raise taxes on richest Americans to fund sweeping education and child care proposals - CNNPolitics

OldWiseGuy said:

Mr. Biden wants to double the capital gains tax. That'll help the economy.

Capital gains tax: Biden will seek to raise taxes on richest Americans to fund sweeping education and child care proposals - CNNPolitics

Click to expand...

What do you think happens to tax money?

It doesn't vanish into an executive's off-shore bank account.

It gets spent on things that are beneficial to the public.