this post was submitted on 27 Feb 2024
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The exchange is for that labour is extremely disproportionate to the value produced, especially in our modern environment of record breaking profits and runaway wealth gaps.
If we look at the whole result of production instead of its value, the situation is more disproportionate. The employer owns 100% of the produced outputs and holds 100% of the liabilities for the used-up inputs while workers as employees receive 0% ownership claim on the produced outputs and 0% liability for the used-up inputs. Capitalism is based on someone else getting what workers produce
That's not an inherent trait of the concept of labor though. That's a direct result of exploitation. The solution isn't to ban hiring a person for a wage; it's labor regulation and unions.
The inherent trait that distinguishes labor from other factors of production is that the actions of persons (labor) come with responsibility for their results. The services of things (capital and land) no matter how effective in increasing output can't be responsible for anything. They merely conduct responsibility back to their human users.
The solution is to have legal and de facto responsibility match. Consequently, all firms should be structured as democratic worker coops @microblogmemes