RE: Just some thoughts

[Jeremy Kidd <jeremy.kidd@mail.house.gov>]

Charlie,

   In your last posting, you summarized, very quickly, the labor theory
of value, proposed by Karl Marx, and which has been disproved many
times in the decades since.  The theory sounds great, but will only
work in an ideal world, which we do not have.  There is another
ingredient to successful civilizations, which is entreprenurial
ability, an economic factor that Karl Marx also refused to accept,
but which does play a part in any economy.  I am not saying that
the division of compensation between wages, rents, and entreprenurial
profits is fair, but in any anlysis of the situation, you must
include all forms of input, if your analysis is to be taken seriously.
There are many, like Bill Gates, who have the ability to create
jobs, and they deserve some compensation for their efforts.  You
and I may agree that they make far too much, but that is a question
for the market to decide, in a capitalist society.

   Thanks, again, for your comments.

Jeremy Kidd