Sunday 17 November 2013

Labour can be sold only once

A big problem with capitalism for the working class is that to sell your labour is to sell something which can be sold only once. The great fortunes in capitalism are made by those firms which sell many of something. The volume is important. If volume is not important then we are dealing with something which might resemble capitalism but which is not quite capitalism... for example mining raw materials is profitable and doesn't have a high volume of sales (there are no individual units) but it is not quite like capitalism because it relies on being able to sell something which is present in nature. Farming is another example of an industry where great profits can be made but this again is slightly different from true capitalism. True capitalism requires a high volume of sales which is where this is a problem for the working class who can sell only their labour. Labour can be sold only once which means there is no means to sell a high volume of labour… it is only the management who retain the upside who are able to make a great fortune in a capitalist system. To sell your labour is a very bad way to make profits… it is much better to have equity in a profitable firm because then you will be able to benefit from the high volume of trade.

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