RE: Wage Labor and Capital - The Slavery they Don’t Tell You
Wage Labor is not the biggest contradiction in Capitalism. It's very possible that the "missing" value that the worker produces is the value of risk and opportunities that the capitalist provides. The cost of resources that a capitalist provides, such as equipment, technology, and ideas should be rewarded.
Instead, the biggest contradiction in capitalism is its profit-maximizing nature. By profit-maximizing, I mean the firm's individual profit, and not economic profit. This profit-maximizing drive naturally forces firms to try and cut costs. Since labor is often the most expensive resources, firms will try to automate a worker's labor. This is were the contradiction comes in. As more firms automate, the value of labor decreases until it is not needed, meaning that firms will not have to hire workers anymore, and resulting in mass unemployment. This also means that most people in society will not have the means to buy the products the capitalist produces, causing the system to collapse.
" The cost of resources that a capitalist provides, such as equipment, technology, and ideas should be rewarded."
a person not capitalist.
even if risk is involved on the whole the capitalist class makes more than they lose (as long as the entire system doesn't collapse)......meaning on average the roi is always positive so risk is really 0 in the end
and the worker will lose his job if the capitalist doesnt make enough money......
the worker needs the money short term to survive. This means he is at a grater risk than the capitalist who has money saved up.