,P>T #a1 ,*APT] #b1 ,SECTION #i 

#aheeahee 

,PEOPLE 3 

,AU?OR 3 ,LYS&] ,SPOON] 

,TEXT 3 

,S,E,C,T,I,O,N ,I,X4 

,OBJECTION ,N9?4 

,IT IS G5]ALLY1 IF NOT UNIV]SALLY1 CONC$$ ?AT AN 9V5TOR HAS A GOOD MORAL CLAIM = COMP5SATION = HIS 9V5TION2 ?AT HE \<T TO BE SUITABLY1 & EV5 LIB]ALLY1 PAID = HIS LABOR4 ,AT ! SAME TIME1 MANY1 :O MAKE ?IS CONCESSION1 WILL SAY ?AT TO ALL[ HIM AN EXCLUSIVE & P]PETUAL PROP]TY 9 HIS 9V5TION1 W\LD BE TRANSC5D+ ALL REASON 9 ! WAY ( COMP5SATION4 

,?IS VIEW ( ! CASE1 IT WILL BE SE51 D5IES TO ! 9V5TOR ALL EXCLUSIVE RI<T ( PROP]TY 9 HIS 9V5TION4 ,IT ASS]TS ?AT ! 9V5TION REALLY BELONGS TO ! PUBLIC1 & NOT TO HIMSELF4 ,& IT ONLY ADVOCATES ! MORALITY & EQUITY ( ALL[+ HIM SU* COMP5SATION = HIS TIME & LABOR AS IS REASONABLE4 ,& IT MA9TA9S ?AT SU* COMP5SATION %\LD BE DET]M9$1 9 SOME MEASURE AT LEA/1 BY ! COMP5SATION :I* O!R M5 ?AN 9V5TORS OBTA9 = !IR TIME & LABOR4 ,& ?IS IS ! VIEW ON :I* PAT5T LAWS G5]ALLY >E F\ND$4 

,! OBJECTION TO ?IS !ORY IS1 ?AT IT /RIKES AT ALL RI<TS ( PROP]TY :ATSOEV]1 BY D5Y+ A MAN'S RI<T TO ! PRODUCTS ( HIS LABOR4 ,IT ASS]TS ?AT GOV]NM5T HAS ! RI<T1 AT ITS [N DISCRETION1 TO TAKE FROM ANY MAN ! FRUITS ( HIS LABOR1 GIV+ HIM 9 RETURN SU* COMP5SATION ONLY1 = HIS LABOR1 AS ! GOV]NM5T DEEMS REASONABLE4 

,IF ?IS PR9CIPLE BE A S\ND ONE1 IT %\LD BE C>RI$ \T T[>DS ALL O!R P]SONS1 AS WELL AS 9V5TORS4 ,A MAN1 :O HAS CONV]T$ WILD L& 9TO A PRODUCTIVE F>M1 %\LD BE ALL[$ TO 5JOY ?AT F>M ONLY UNTIL ! GOV]NM5T ?9KS HE IS REASONABLY PAID = HIS LABOR4 ,!N IT %\LD BE TAK5 FROM HIM4 ,!RE IS NO REASON :Y ! GREATE/ B5EFACTORS ( MANK9D %\LD BE MADE ! VICTIMS ( AN >BITR>Y DISCRETION1 DE/RUCTIVE ( !IR NATURAL RI<TS TO ! FRUITS ( !IR LABOR1 :5 ! RULE IS APPLI$ TO NO ONE ELSE4 ,O!R M51 :O HAVE NEV] ADD$ ONE ?\S&? P>T SO MU* TO ! G5]AL /OCK ( WEAL?1 >E ALL[$ TO AMASS L>GE =TUNES1 )\T ! LIABILITY ( HAV+ IT ALL TAK5 FROM !M1 EXCEPT SO MU* AS ! GOV]NM5T MAY *ANCE TO ?9K WILL BE A REASONABLE COMP5SATION = ! LABOR EXP5D$ 9 ACQUIR+ IT4 ,:AT RI<T HAS GOV]NM5T TO MAKE ANY SU* DI/9CTION AS ?AT8 

,BUT :AT IS 0REASONABLE COMP5SATION0 = A MAN'S LABOR8 ,IT IS :AT ! LABOR IS REALLY WOR?1 IS IT NOT8 ,MO/ C]TA9LY IT IS4 ,& :AT IS ANY & ALL LABOR WOR?8 ,IT IS WOR? JU/ :AT IT PRODUCES1 & NO MORE4 ,?IS IS ! PRECISE VALUE ( ALL LABOR4 ,LABOR ?AT PRODUCES NO?+1 IS WOR? NO?+4 ,LABOR ?AT PRODUCES MU*1 IS WOR? MU*4 ,! LABOR1 :I* IT CO/S A MAN TO PICK UP A PEBBLE1 IS JU/ WOR? A PEBBLE1 & NO MORE4 ,! LABOR1 :I* IT CO/S A MAN TO PICK UP A DIAMOND1 IS WOR? ! DIAMOND1 BY ! SAME RULE ?AT ! O!R LABOR WAS WOR? ! PEBBLE1 & ONLY A PEBBLE4 ,EA* K9D ( LABOR IS WOR? ! ?+ IT PRODUCES1 BECAUSE IT PRODUCES ?AT ?+4 ,!RE IS NO O!R WAY ( DET]M9+ ! VALUE ( LABOR4 ,!RE IS NO >BITR>Y /&>D ( ! VALUE ( LABOR2 AL?\< :5 LABOR ITSELF IS SOLD 9 ! M>KET1 79/EAD ( ! PRODUCTS ( LABOR17 AN >BITR>Y PRICE IS FIX$ UPON IT1 EI!R BECAUSE ! NECESSITIES ( ! LABOR] COMPEL HIM TO SELL HIS LABOR AT AN >BITR>Y PRICE1 OR BECAUSE IT IS NOT KN[N BE=EH& H[ MU* HIS LABOR WILL BE WOR?4 ,9 SU* CASE1 ! PUR*AS] ( ! LABOR TAKES HIS RISK :E!R ! LABOR WILL PROVE TO BE WOR? MORE OR LESS ?AN ! PRICE HE PAYS = IT4 ,IF IT PRODUCE MORE ?AN HE PAYS = IT1 HE MAKES A PR(IT4 ,IF IT PRODUCE LESS1 HE MAKES A LOSS4 ,BUT ?IS PRICE ?AT HE PAYS HAS NO?+ TO DO 9 FIX+ ! REAL VALUE ( ! LABOR4 ,! EXACT VALUE ( ! LABOR CANNOT BE KN[N UNTIL ITS PRODUCTS >E KN[N4 ,!N ! TRUE VALUE ( ! LABOR IS DET]M9$ & MEASUR$ BY ! VALUE ( ITS PRODUCTS4 

,LABOR HAS NO VALUE ( ITSELF4 ,IF IT PRODUC$ NO?+1 IT W\LD BE WOR? NO?+4 ,( NECESSITY1 !RE=E1 EV]Y SEP>ATE ACT ( LABOR IS WOR? PRECISELY :AT IT PRODUCES--BE IT LITTLE OR MU*4 ,A MAN1 !RE=E1 DOES NOT RECEIVE ! FULL VALUE ( HIS LABOR1 UNLESS HE RECEIVE ! :OLE ( ITS PRODUCTS4 

,?OSE1 :O TALK AB\T ! JU/ICE ( ! GOV]NM5T'S ALL[+ AN 9V5TOR REASONABLE COMP5SATION = HIS LABOR1 TALK AS IF ! GOV]NM5T HAD EMPLOY$ ! 9V5TOR TO LABOR = IT = WAGES--! GOV]NM5T TAK+ ! RISK :E!R HE 9V5T$ ANY ?+ ( VALUE1 OR NOT4 ,9 SU* A CASE1 ! GOV]NM5T W\LD BE 5TITL$ TO ! 9V5TION1 ON PAY+ ! 9V5TOR HIS /IPULAT$1 OR REASONABLE1 WAGES4 ,BUT ! GOV]NM5T DOES NOT EMPLOY AN 9V5TOR TO 9V5T A /EAMBOAT1 OR A TELEGRAPH4 ,HE 9V5TS IT :ILE LABOR+ ON HIS [N ACC\NT4 ,IF HE SUCCE$1 !RE=E1 ! :OLE FRUITS ( HIS LABOR >E RI<TFULLY HIS2 IF HE FAIL1 HE BE>S ! LOSS4 ,HE NEV] CALLS UPON ! GOV]NM5T TO PAY HIM = HIS LABOR ?AT WAS UNSUCCESSFUL2 & ! GOV]NM5T NEV] YET UND]TOOK TO PAY = ! LABOR ( ! HUNDR$S & ?\S&S ( UN=TUNATE M51 :O ATTEMPT$ 9V5TIONS1 & FAIL$4 ,) :AT =CE1 !N1 CAN IT CLAIM TO SEIZE ! FRUITS ( !IR SUCCESSFUL LABOR1 LEAV+ !M ONLY :AT IT PLEASES TO CALL A REASONABLE COMP5SATION1 OR REASONABLE WAGES1 = !IR LABOR8 ,IF ! GOV]NM5T W]E TO DO ?US T[>DS O!R M5 G5]ALLY ?AN 9V5TORS1 !RE W\LD BE A REVOLUTION 9/ANTLY4 ,SU* A GOV]NM5T W\LD BE UNIV]SALLY REG>D$ AS ! MO/ AUDACI\S & MON/R\S ( TYRANNICS4 

,IF A MAN1 :ILE LABOR+ = HIMSELF1 & AT HIS [N RISK1 HAVE PRODUC$ MU* WEAL?1 ) LITTLE LABOR1 IT IS HIS GOOD =TUNE1 OR ! RESULT ( HIS GOOD JUDGM5T1 & SUP]IOR P[]S4 ,NO ONE BUT HIMSELF HAS ANY CLAIM UPON ! PRODUCTS ( HIS LABOR2 & IT IS ! %E]E/ ROBB]Y TO TAKE !M FROM HIM )\T HIS CONS5T4 

,*RONOLOGY 3 
,NOVEMB] #c1 #ah$ 3 ,P>T #a1 ,*APT] #b1 ,SECTION #i -- ,PUBLICATION4 
,JANU>Y #i1 #bb 3 ,P>T #a1 ,*APT] #b1 ,SECTION #i -- ,ADD$4 

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