So went capitalist extract surplus labour value instead of paying the worker the value their work produces?
They don’t extract anything. You agree to perform a statement of work for an agreed to amount of money. You set the price of your labor by agreeing to take the job. If the business (which risked its capital) makes money, they get to keep that. If they lose money you still get your paycheck. Sounds like the guy taking the most risk gets the biggest reward. So would you be ok returning some of your pay if the company you worked for had a bad year and lost money? Didn’t think so. Here’s a challenge for you. Start a business and show us all how it’s done correctly.
It's not about wanting someone else's money, the underlying point is that the system is broken and it creates huge inequality. Of course someone should be rewarded for creating great things but that shouldn't be at the cost of basic human needs.
The minimum wage is the least amount that you are willing to work for.
I always ask proponents of the minimum wage why it shouldn’t be $150 dollars an hour instead of meager $15 dollars an hour they propose. “We can all be rich” I say.
I then watch their brain short-circuit as they imagine $50 dollar loaves of bread and $100 Big Macs. But if all it takes to be wealthy is to fix the price of labor, why not $150 an hour?
Thomas Sowell is a moron. His whole schtick is, 'if we may black people work harder, they'll become white'.
