When Elizabeth Warren said:
“There is nobody in this country who got rich on his own — nobody. “You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police-forces and fire-forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory — and hire someone to protect against this — because of the work the rest of us did. “Now look, you built a factory and it turned into something terrific, or a great idea. God bless — keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along.”
She was mercilessly pounded by the right. Paul Ryan said she suffered from the "fatal conceit of liberalism." I wonder what Ryan would say about those doyens of liberalism, the father of the "invisible hand of the free market" Adam Smith, Thomas Payne or Abraham Lincoln.
"The woolen-coat, for example ... is the produce of the joint labor of a great multitude of workmen. The shepherd, the sorter of the wool, the wool-comber or carder, the dyer, the scribbler, the spinner, the weaver, the fuller, the dresser, with many others, must all join their different arts in order to complete even this homely production. How many merchants and carriers, besides, must have been employed in transporting the materials from some of those workmen to others who often live in a very distant part of the country! How much commerce and navigation in particular, how many ship-builders, sailors, sail-makers, rope-makers, must have been employed in order to bring together the different drugs made use of by the dyer, which often come from the remotest corners of the world!"(1) ~ Adam Smith
"Few tricks of the unsophisticated intellect are more curious than the naïve psychology of the business man, who ascribes his achievements to his own unaided efforts, in bland unconsciousness of a social order without whose continuous support and vigilant protection he would be as a lamb bleating in the desert," wrote the great economic historian R.H. Tawney in 1926. He added pointedly that the arrogant assumption that marginal people's "distress is a proof of demerit... has always been popular with the prosperous."
Separate an individual from society, and give him an island or a continent to possess, and he cannot acquire personal property. He cannot be rich. So inseparably are the means connected with the end, in all cases, that where the former do not exist the latter cannot be obtained. All accumulation, therefore, of personal property, beyond what a man's own hands produce, is derived to him by living in society; and he owes on every principle of justice, of gratitude, and of civilization, a part of that accumulation back again to society from whence the whole came. ~Thomas Payne
Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. ~ Abraham Lincoln
Thanks to Terrance Heath for the history lesson.
Workers in BMW's auto plants in Germany make twice as much as US workers in BMW plants who make $15 an hour. Oh and by the way German workers get 35 days of vacation AND decent healthcare.
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