,P>T #b1 ,*APT] #de 
,:Y ,WAGES ,%\LD ,ABSORB ,PR(ITS 

#ahigahig 

,PEOPLE 3 

,AU?OR 3 ,B5JAM9 ,R4 ,TUCK] 

,TEXT 3 

,:Y ,WAGES ,%\LD ,ABSORB ,PR(ITS4 

.<,LIB]TY1 ,JULY #a#f1 #a#h#h#g4.> 

,VAN ,BUR5 ,D5SL[1 DISCUSS+ 9 ! ,TRU? ,SEEK] ! COMP>ATIVE REW>DS ( LABOR & CAPITAL1 PO9TS \T ?AT ! PRES5T WAGE SY/EM DIVIDES PR(ITS AB\T EV5LY BETWE5 ! TWO1 9/ANC+ ! RAILWAYS ( ,ILL9OIS1 :I* PAY ANNUALLY 9 SAL>IES & WAGES @s#h#a1#i#c#f1#a#g1 & TO CAPITAL1 :I* ,MR4 ,D5SL[ DEF9ES AS ! LABOR PREVI\SLY DONE 9 CON/RUCT+ & EQUIPP+ ! ROADS1 @s#h#a1#g#b1#b#f#e4 ,!N HE REM>KS3 ,NO SY/EM ( 9T5TIONAL PR(IT-%>+ IS MORE EQUAL ?AN ?IS1 PROVID$ WE ASS5T TO ! PR9CIPLE ?AT A DAY'S WORK ALREADY DONE & EMBODI$ 9 ! =M ( CAPITAL IS AS WELL 5TITL$ TO COMP5SATION = ITS USE AS A DAY'S WORK NOT YET DONE1 :I* WE CALL LABOR4 ,EXACTLY4 ,BUT ! PR9CIPLE REF]R$ TO IS ! V]Y ?+ :I* WE ,SOCIALI/S D5Y1 & UNTIL ,MR4 ,D5SL[ CAN MEET & VANQUI% US ON ?AT PO9T1 HE WILL 9 VA9 ATTEMPT TO DEF5D ! EXI/+ OR ANY O!R =M ( PR(IT-%>+4 ,! ,SOCIALI/S ASS]T ?AT A DAY'S WORK EMBODI$ 9 ! =M ( CAPITAL HAS ALREADY BE5 FULLY REW>D$ BY ! [N]%IP ( ?AT CAPITAL2 ?AT1 IF ! [N] L5DS IT TO ANO!R TO USE & ! US] DAMAGES IT1 DE/ROYS IT1 OR CONSUMES ANY P>T ( IT1 ! [N] IS 5TITL$ TO HAVE ?IS DAMAGE1 DE/RUCTION1 OR CONSUMPTION MADE GOOD2 & ?AT1 IF ! [N] RECEIVES FROM ! US] ANY SURPLUS BEYOND ! RETURN ( HIS CAPITAL 9TACT1 HIS DAY'S WORK IS PAID = A SECOND TIME47#i#f 8 #a7  

,P]HAPS ,MR4 ,D5SL[ WILL TELL US1 AS WE HAVE SO (T5 BE5 TOLD BE=E1 ?AT ?IS DAY'S WORK %\LD BE PAID = A SECOND & A ?IRD & A HUNDR$? & A MILLION? TIME1 BECAUSE ! CAPITAL :I* IT PRODUC$ & 9 :I* IT IS EMBODI$ 9CREAS$ ! PRODUCTIVITY ( FUTURE LABOR4 ,! FACT ?AT IT DID CAUSE SU* AN 9CREASE WE GRANT2 BUT ?AT LABOR1 :]E !RE IS FRE$OM1 IS OR %\LD BE PAID 9 PROPORTION TO ITS USEFULNESS WE D5Y4 ,ALL USEFUL QUALITIES EXI/ 9 NATURE1 EI!R ACTIVELY OR POT5TIALLY1 & !IR B5EFITS1 UND] FRE$OM1 >E DI/RIBUT$ BY ! NATURAL LAW ( FREE EX*ANGE AMONG MANK9D4 ,! LABOR] :O BR+S ANY P>TICUL> USEFUL QUALITY 9TO ACTION IS PAID ACCORD+ TO ! LABOR HE HAS EXP5D$1 BUT GETS ONLY HIS %>E1 9 COMMON ) ALL MANK9D1 ( ! SPECIAL USEFULNESS ( HIS PRODUCT4 ,IT IS TRUE ?AT ! USEFULNESS ( HIS PRODUCT HAS A T5D5CY TO 5HANCE ITS PRICE2 BUT ?IS T5D5CY IS IMM$IATELY (FSET1 :]EV] COMPETITION IS POSSIBLE1--& AS LONG AS !RE IS A MONEY MONOPOLY !RE IS NO FRE$OM ( COMPETITION 9 ANY 9DU/RY REQUIR+ CAPITAL1--BY ! RU% ( O!R LABOR]S TO CREATE ?IS PRODUCT1 :I* LA/ UNTIL ! PRICE FALLS BACK TO ! NORMAL WAGES ( LABOR4 ,H5CE IT IS EVID5T ?AT ! [N] ( ! CAPITAL EMBODY+ ! DAY'S WORK ABOVE REF]R$ TO CANNOT GET HIS WORK PAID = EV5 A SECOND TIME BY SELL+ HIS CAPITAL4 ,:Y1 !N1 %\LD HE BE ABLE TO GET IT PAID = A SECOND TIME & AN 9F9ITE NUMB] ( TIMES BY REPEAT$LY L5D+ HIS CAPITAL8 ,UNLESS ,MR4 ,D5SL[ CAN GIVE US SOME REASON1 HE WILL HAVE TO ADMIT ?AT ALL PR(IT-%>+ IS A HUMBUG1 & ?AT ! 5TIRE NET PRODUCT ( 9DU/RY %\LD FALL 9TO ! H&S ( LABOR NOT PREVI\SLY EMBODI$ 9 ! =M ( CAPITAL1--9 O!R WORDS1 ?AT WAGES %\LD 5TIRELY ABSORB PR(ITS47#i#f 8 #b7 

,FROM 3 FAIR-USE4ORG4 

,*RONOLOGY 3 
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