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Labor Force Quote of the day
Labor # Unions are the leading force for # democratization and # progress .
Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.
In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor force will work for the lowest wage.
When we say "people worry" about inflation, it's mainly bondholders that worry. The labor force benefitted from the inflation of the '50s, '60s and '70s.
If you had pockets, you were associated with a labor force. It meant you had things to carry yourself. Otherwise, your lady's maid or your manservant would have done it for you.
What is the point of "labor saving" if by making work effortless we make it poor, and if by doing poor work we weaken our bodies and lose conviviality and health? (Health is Membership, pg. 93)