Friday, January 20, 2023

Ownership of all the products of labor

January 20, 2023

I have already mentioned the economic theory that a craftsman has absolute ownership of all the products of his labor. It resounds in Locke's labor theory of value, among other places. It strangely enough could be extended to the State, by saying, if money is a product created by the state, then, the State has the absolute right to print more of it for any purpose. I have heard that espoused before. I wonder what Locke would think about that. I wonder what would Silvio Gesell. I wonder what Modern Monetary Theory would make of it.

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