FOL. The Right to the Full Output of Labor
... With the power of the public ledger (PLG) how can a (CTZ) ensure he receives the full output of his labor?
Capitalism has allowed the capitalist to take value produced by the laborer as economic rent? Can this be neutralized?
The idea of the 'full output of labor' has traditionally been a communist and/or socialist ideal. Is it exclusive to those modes of government? Communism has failed and socialism loses many advantages of free market capitalism. Can we have both the free market and provide a laborer with the full output of his labor?
Surely providing a laborer with his full output is an admirable thing. The 'working' class has always been one of the most disadvantaged and it would be admirable for us to lift the lower class out of poverty and give them the ability to reach their full productivity.
We believe we can do this. First we must discuss our theory of value.
What is the value of a man's labor? This is a time bound question. At the time of a person's hiring, the value is what someone is willing to pay him. After he has labored, he may have produced something of far more value, but there was risk involved so the capitalist needed to make profit on the risk taking. Surely we can allow the capitalist this right? We can pay him for his risk with the profits of the labor. We think this is optimal and drives capitalism forward.
What of the laborer? Has he lost out on value? Yes. All he has is the cash he exchanged his labor for. At a moment in time, that value is bounded by a number. If we remove the time constraint though, his cash has significant value in the future economy.
Our belief is that all value is future value. Past value cannot be retrieved. Once the labor is spent, it is gone. You cannot renegotiate the value of the past labor. What you can do is track and capture the value that the cash paid to the laborer generates, and return it to him over time.
In addition since the capitalist owns prefs in the laborer, he will contribute future value to the laborer in hopes to increase his future income and recover his capital. We assume the following inequality:
Value of Labor At the time of Labor < Sum(Future value of payment received from prefs) + Sum(Goodwill value given to the laborer by pref owners)
In this way, the communist and socialist thinkers were thinking TOO SMALL. The worker does not have the right to the full value of his labor, he has the right to the full future value of his past labor which is much greater.
Implement prefs to provide workers with the full output of their future labor over time.
The full output of labor can help contribute to a citizens Legacy (LEG). It is protected by statutory theft (STH).