On Labor Day

Perhaps Labor Day would best be celebrated by recognizing the source of wage labor: capitalism. Economist George Reisman had it correct when he wrote that few people could survive by selling products. Many more people survive by selling their labor. Before capitalists entered the scene, people either survived on subsistence or by earning profits by selling their own products. Capitalism, rather than impoverishing wage earners, made it possible for earning wages by selling labor to exist at all. The Marxists were wrong; capitalists did not invent profits, they invented wages, and thus invented the Middle Class, lifting billions out of poverty. And that’s today’s two cents.

Save as PDFPrint
Liked it? Support this contributor on Patreon!
Skyler J. Collins (Editor)

Written by 

Founder and editor of Everything-Voluntary.com and UnschoolingDads.com, Skyler is a husband and unschooling father of three beautiful children. His writings include the column series “One Voluntaryist’s Perspective” and “One Improved Unit,” and blog series “Two Cents“. Skyler also wrote the books No Hitting! and Toward a Free Society, and edited the books Everything Voluntary and Unschooling Dads. You can hear Skyler chatting away on the official Everything-Voluntary.com podcast.

Leave a Reply

avatar
  Subscribe  
Notify of