– because Marx’s entire theory of exploitation relies upon it – this assumption was not originally his own.had his own version. Labour, he said, “is the real measure of the exchangeable value of all commodities”. The problem is that not all labour is valued. I may value the labour of a mechanic today but when I need a brain surgeon the mechanic would have little appeal to me.
But this doesn’t mean the music of the market doesn’t have a composer. When we sit and listen to a great symphony we see dozens of musicians offering a synchronised piece of music. They play different instruments but with the conductor’s help they produce beauty. But they are interchangeable with other musicians of similar talent.
A composer takes existing notes and instruments and weaves them together in a unique experience. The entrepreneur combines resources, labour, technologies – all of which he pays for – and then brings them together to produce something he hopes others will be willing to pay for. By combining the right undervalued resources, he helped improve the standard of living of all, even if his prime motive was to earn a return on his investment.
They may use regulations to force consumers to buy their goods by restricting competition or simply outlawing it. Others use political pull to receive special subsidies or tax write-offs denied to their competitors. They will play political jurisdictions against one another to see who will give them the largest amount of other people’s money.
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