Re: Why We Don't Celebrate A "Capital Day"

On Sep 2, 11:44 am, Bret Cahill <BretCah...@aol.com> wrote:
> > > ... But the jars of fruit are __**NEVER**__ capital.
> > That's true -and that is precisely the error in the "labor theory of
> > value".
> > What is capital is inventing a process to make jars at half the
> > previous price
>
> That's labor.
>
> The $275,000/yearIBMemployee with a dozen patents on state of the
> art memory devices in his name is labor.  IBMkeeps the IP rights and
> money.

But, using state of the art memory to design state of the art
robots, holograms, PV Cells,
Ebooks, Blogs, GPS Receivers, and USB  is innovation, rather than
capital or labor, which is what
IBM doesn't understand about buisness, memory, capitol, land, or
patents,



> The $8/hour unionized TV sitcom writer considers his work labor.
>
> Warren Buffet identifying and avoiding poorly managed companies is
> labor.  Strip Buffet of all his money and his identity and in two
> years he'ld be a billionaire again.
>
> Why?  Because Buffet believes in his labor.
>
> What isn't labor?
>
> Someone who is only renting his land for others to farm.  That
> requires _zero_ intellectual input as well as _zero_ physical input.
> Strip that landlord of his land and he'ld be like all those lottery
> winners who are broke in one year.  The landlord-only could be
> eliminated and the economy would be as productive as ever, if not more
> so.
>
> The land issue raised by Henry George is yet _another_ matter GOP
> "market" economists will always dodge.
>
> So the two most critical factors for a market economy, free speech on
> economic issues and geo resources, are always dodged by the outspoken
> "market" economists at Hoover, Heritage, Am. Enterprise, Cato, the
> Chicago School, von Mises . . . .
>
> Bret Cahill
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