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The labor theory of property does not only apply to land itself, but to any application of labor to nature. For example, natural rights thinker Lysander Spooner , [ 4 ] says that an apple taken from an unowned tree would become the property of the person who plucked it, as he has labored to acquire it.
This was later elaborated on by Smith, who believed that the amount of labour it takes to produce a good does not provide its value but instead the labour the good commands or the value of goods people will be willing to trade for the good. [30] He felt the division of labour to produce products for others was better for the whole of society. [31]
To each according to his contribution" is a principle of distribution considered to be one of the defining features of socialism. It refers to an arrangement whereby individual compensation is representative of one's contribution to the social product (total output of the economy) in terms of effort, labor and productivity. [1]
If labour produces useless products or results, it is simply a waste of labour-time and difficult or impossible to sell them. So, Marx argues that human work is both (1) an activity which, by its useful effect, helps to create particular kinds of products, and (2) in an economic sense a value-forming activity that, if it is productively applied ...
That is, some forms of labour co-operation are purely due to "technical necessity", but others are a result of a "social control" function related to a class and status hierarchy. If these two divisions are conflated, it might appear as though the existing division of labour is technically inevitable and immutable, rather than (in good part ...
G.A. Cohen 'The Labour Theory of Value and the Concept of Exploitation', in his History Labour and Freedom. Duncan, Colin A.M. 1996. The Centrality of Agriculture: Between Humankind and The Rest of Nature. McGill–Queen's University Press, Montreal. ——2000. The Centrality of Agriculture: History, Ecology and Feasible Socialism.
Painting of the parable, by Jacob Willemszoon de Wet, mid-17th century. The Parable of the Workers in the Vineyard (also called the Parable of the Laborers in the Vineyard or the Parable of the Generous Employer) is a parable of Jesus which appears in chapter 20 of the Gospel of Matthew in the New Testament.
Human labor becomes dominated by the economic exchange of the products of that labor, and labor itself becomes a tradeable abstract value (see Abstract labour and concrete labour). The result of the difficulties in explaining economic value and its sources is that value becomes something of a mystery, and that how the attribution of value ...