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Tuesday, February 25, 2014

Quote of the Day: Marxism refuted in one sentence

“A wage is money paid in exchange for the performance
of labour, not for the products of labour.”
- George Reisman,
taken from his “Remarks at the Conferral of His Honorary Doctorate from UFM”

Want to understand how this one sentence undermines the Marxist exploitation meme? Read on.

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2 comments:

  1. AnonymousFeb 25, 2014, 9:41:00 AM

    "undermines the Marxist exploitation meme" does nothing.

    there's only one way to undermine communists and their fellow travellers. only one.

    ReplyDelete
  2. MarkTFeb 28, 2014, 10:10:00 AM

    Thanks for posting this Peter - rather timely following recent discussions on this site. I find it incredible that the Marxist views around labour exploitation still have any supporters - in spite of history, in spite of common sense, and in spite of theoretical debunking such as this from Reisman.

    ReplyDelete

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