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No one who is employed is paid "the true value of their labor". Every exchange, whether it's dollars for a good or dollars for labor, happens because of the sub
by ancap 9y ago
No one who is employed is paid "the true value of their labor". Every exchange, whether it's dollars for a good or dollars for labor, happens because of the subjective value the exchange provides to the exchangers.
>Business owners exploit the basic human need for food and shelter to underpay low-skill workers.
You could equally (and wrongly) say that workers exploit businesses basic need for labor. It's economic nonsense.
- batmanthehorse 9y agoYou're equating a business's "needs" with the human need to eat.
- ancap 9y agoNo, I'm equating one statement of economic nonsense with another statement of economic nonsense. It was a reductio ad absurdum. Unless there are severe external market constraints pushing down the demand of labor, an employer would never be able to "exploit the basic human need for food and shelter".