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by sooheon
1773 days ago
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Great point, but worker exploitation (like so many other problems) flow out of perverse rentier structures. In fact this is one of the first principles discovered about how rent works, termed the "law of rent" by David Ricardo over 200 years ago. I.e. that the rent collected from productivity will always be such that the remaining wages are only exactly as good as the "margin of production", a.k.a. the next best alternative to engaging with the labor economy, subsistence living. This is why you can have exploding productivity and still subsistence standard of living for labor, where the entirety of the excess is captured by rentiers. https://en.wikipedia.org/wiki/Law_of_rent |
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