A Quote by David Harvey

Money could not be converted into capital if wage labour did not exist. — © David Harvey
Money could not be converted into capital if wage labour did not exist.
Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price.
In the course of the twenty-first century what may be called the "capital wage" could be added to the labor wage and the social wage, so that middle-class Americans - not merely an affluent minority - might derive income from three sources rather than just two.
All the great establishments, of every kind, now in the hands of a few proprietors, but employing a great number of wage laborers, would be broken up; for few or no persons, who could hire capital and do business for themselves would consent to labour for wages for another.
If there existed only one man or woman who did not love the Saviour, and if that person lived among the wilds of Siberia, and if it were necessary that all the millions of believers on the face of the earth should journey there, and every one of them plead with him to come to Jesus before he could be converted, it would be well worth all the zeal, labour, and expense. If we had to preach to thousands year after year, and never rescued but one soul, that one soul would be full reward for all our labour, for a soul is of countless price.
In passing the National Minimum Wage Act in 1998, the then-Labour Government did more than just establish the legal right to a minimum wage, significant as that was. More importantly, the Act made non-compliance a criminal offence.
An increase in the productivity of labour means nothing more than that the same capital creates the same value with less labour, or that less labour creates the same product with more capital.
Labour has converted to Europe because Europe has converted to socialism.
For the folk-community does not exist on the fictitious value of money but on the results of productive labour, which is what gives money its value.
If the helplessness and isolation of labour, who have nothing to sell but their labour, can be totally removed by connecting labour with capital through a universal credit system, we'll then have other kinds of actors on the economic scene different from what the existing capitalist world would allow us to bring out.
I did the Labour thing because I wanted my community to be better off. I'm pretty sure people are aware of the kind of money I make. I'm not telling people to vote Labour to benefit me.
It is preferable to regard labour, including, of course, the personal services of the entrepreneur, and his assistants, as the sole factor of production, operating in a given environment of technique, natural resources, capital equipment and effective demand. This is why we have been able to take labour as the sole physical unit which we require in our economic system, apart from units of money and of time.
Money must exist before it can be turned into capital.
But how odd that in this heathen nation of empty pews, where churches' bare, ruined choirs are converted into luxury loft living, a Labour government - yes, a Labour government - is deliberately creating a huge expansion of faith schools.
The geographical movement of money and commodities as capital is not the same as the movements of products and of precious metals. Capital is, after all, money used in a certain way, and is by no means identical with all money uses.
The proportions, too, in which the capital that is to support labour, and the capital that is invested in tools, machinery and buildings, may be variously combined.
It has had a calamitous effect on converted peoples. To be converted you have to destroy your past, destroy your history. You have to stamp on it, you have to say 'my ancestral culture does not exist, it doesn't matter'.
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