labor productivity – Warp and Woof

Aren’t We All Rentiers?

When we own capital, and then charge people to use it, but don’t give it to them, we become rentiers, to use the economic term invented by David Ricardo

People oversimplify the idea of productivity, and the basic concept is pretty simple (Productivity = Output/Input). But the modern world economy, due to technology, social forces, etc. makes the definition of “productivity” a bit more interesting …

Wealth Creation: Does it Matter Where it Comes From?

Rent-seeking, in economic thought, seems to be critical to capitalism’s survival … but so is labor! Both are necessary to achieve the abundance we all seek …

Class Struggle Doesn’t Go Away, It Just Evolves

The world has changed much since Marx and Engels published their Communist Manifesto in 1848 — but it doesn’t mean they were wrong!