By any other name… It is still the same

Posted on March 17, 2010 by

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All of us are familiar with the famous Shakespearean line from Romeo & Juliet, “What’s in a name? That which we call a rose, by any other name, would smell as sweet.” Often this line is rephrased as, “A rose by any other name is still a rose.” The meaning is self-evident. What matters is what something is, not what it is called.

So, what is a Dollar? The most obvious answer is, “A dollar is money.” It does not matter what name we give the dollar, it is still money. Do you see the capitalist trick here? Money is also a name. The name “Dollar” was given as the description of another name, “money.” The answer does not identify what a dollar is because the answer never identifies what money is.

Money represents produced wealth; more specifically, money represents work credits. Money is an abstraction that represents the work credits of produced wealth.

There are two sides of every economy, Production & Service. Wealth can only be produced through the production economy, a process economists refer to as “value added.” In other words, the production process adds value to the materials being processed. The service economy can only obtain wealth by exchanging its services for work credits that were already produced by the production process.

Consider now the ultra-rich. Where do all of their work credits come from? It would be impossible for the ultra-rich to earn their work credits within their lifetime if they did the work themselves. The ultra-rich have devised methods to coax work credits away from the workers that produced the credits.

Consider now the corporate executive. The workers never get full credit for the wealth they produce; for while the corporate workers produce wealth, corporate executives skim work credits away from the workers. In other words, corporate executives live lives of luxury at the expense of the workforce.

There was a time when it was considered honorable to share some of our excess work credits with the less fortunate. Today, however, the capitalist system imposes upon workers an obligation to surrender an inordinate proportion of their work credits over to the more fortunate.

If we are to consider the premise that life is precious, then who decides who’s life is more precious than the life of someone else? America is based upon the proposition that every person’s life is equally as precious as the next person’s life. And, insomuch as our natural life cycle limits each life to a specific period of time, the time each person has must be considered as equally precious to each person.

The proposition of Socialism is: Because every person’s time is equally valuable, every person that contributes to the production of wealth should receive an equitable share of the work credits representing that wealth produced. In addition, there are not sufficient opportunities for everyone to contribute to the production of wealth; consequently, a portion of those work credits must be distributed among persons who were denied the opportunity to sufficiently contribute to the cumulative wealth of a society.

Work credits by any other name creates abstractions that mislead the workforce. So, what is in a name? The answer would be – Capitalist Deception.

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Posted in: General Interest