Happy Labor Day

[Youngstownshrimp]

Let me get this straight, does Dan have the advance degree or Spizak, You decide?

[Dan Moadus]

Wrong Dennis. Labor is one of the most abundant things on Earth. Capital is scarce. Take a look at any third world country, they crawl with labor, but without capital, they are relegated to scratching in the dirt with sticks. Capital is the multiplier that enables progress. A million people scratching in the dirt with a stick will not get you a tractor. For a tractor to come about, someone has to envision it, and invest enough money to buy the tooling and materials needed to build it. Only then will they need someone to labor to build it, and as I said, the labor could be found almost anywhere.

Answer this Dennis. How can labor that can only provide bare subsistence create capital? 

[irishbobcat]

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.

[irishbobcat]

If you enjoyed today off with pay.....thank the unions from the past who did your bidding......