A Quote by Kenneth Rogoff
Marx's theory that only capitalists benefit from capitalism and workers are exploited was completely wrong. Nothing could have been further from the truth. Workers earned more as economies grew.
Related Quotes
A crackpot theory. Instead of saying labor's exploited, as Marx did, Kelso says capital's exploited. It's worse than Marx. It's Marx stood on its head.
If the workers of the world want to win, all they have to do is recognize their own solidarity. They have nothing to do but fold their arms and the world will stop. The workers are more powerful with their hands in their pockets than all the property of the capitalists. . . .
The difference between the Chinese workers and foreign workers lies in the fact that the latter are oppressed only by their own capitalists and not by those of other countries.
The fundamental law of capitalism is: when workers have more money, businesses have more customers, and need more workers. The idea that high wages equals low employment, it's absurd.
When illegal labor is used, that almost always depresses wages paid to all workers. The illegal workers can be exploited, and they will usually accept lower wages. As a result, all workers in the plant, including U.S. citizens, will see their wages go down.
The more successful capitalists are in cutting their wage costs, the less money workers will have to buy back what those same capitalists produce. It's a contradiction.
Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
We have no parties standing in opposition to each other, just as we have no class of capitalists and a class of workers exploited by capitalists in opposition to each other.
All the laws made for the betterment of workers' lives have their origin with the workers. Hours are shortened,wages go up, conditions are better----only if the workers protest
Low-wage workers are also consumers. It's just common sense: when these workers have more take-home pay it leads to spending that trickles up to benefit many small, locally owned businesses.
Take Western nations on both sides of the Atlantic, where xenophobic demagogues have been allowed to turn the law-abiding workers who prop up their economies into barbaric freeloaders, all simply to further their nefarious ends.
Most of Marx's predictions have failed to materialize, and his labor theory of value and other ideas have been proven wrong. Marx failed to recognize the incentive system built into the capitalist model - consumer choice and the profit motive of the entrepreneur. The irony is that capitalism, not socialism or Marxism, that has liberated the worker from the chains of poverty, monopoly, war, and oppression, and has better achieved Marx's vision of a millennium of hope, peace, abundance, leisure, and aesthetic expression for the 'full' human being.
I'm for anything that lets people come here to work legally. There are more protections for workers who are here legally than for those who are not. It's also safer for the workers and employers have a more consistent pool of workers.
Government does create prosperity and growth by creating the conditions that allow both entrepreneurs and their customers to thrive; balancing the power of capitalists like me and workers isn't bad for capitalism - it's essential to it.
All the revolutions have happened when a Fidel or Marx or Lenin or whatever, who were intellectuals, were able to get through to the workers. They got a good pocket of people together and the workers seemed to understand that they were in a repressed state.
We have to defend the migrant workers and give them our support and demand that they have the rights that workers here have from day one, but absolutely hate the system that forces people to leave their country, leave their homes, leave their families, to go somewhere else to be exploited.
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