>>> I take the following story from the New School economist Ed Nell.

>> [snip]

>>> Note the owners provide no direct inputs into production in the above
>>> diagram. They are paid profits for no material inputs at all. Profits
>>> are not the result of some sort of exchange of goods or services for
>>> profit income. This suggests that wages are not exchanged for labor,
>>> or at least the trade is not fair. It is exploitative:
>>>
>>>   "From the point of view of Political Economy, however, the most
>>>   important fact is that while wages are paid for work, and one can
>>>   (and in some circumstances should) think of the wage bill, equal
>>>   here to Worker Consumption, as reproducing the power to work,
>>>   *profits are not paid for anything at all*.

>> I find it remarkable that anyone can actually believe this.

>    I don't find Edward's lack of knowledge and incoherences at all
> remarkable.

>> How did the firms come to be?  How do they continue to be?
>> Do capital and labor spontaneously self-assemble into a
>> cohesive productive unit?

>    What is Edward talking about? My argument had a complete complement
> of capital goods. What does Edward mean by capital? Is he confusing
> money with produced commodities that can be used in the production
> of more commodities?


Economies don't function in that way Robert.  Trying to masturbate in public
to a naked picture of Joan Robinson is not useful to your credibility.


> By a firm, does Edward mean to refer to an
> institution organized in a hierarchical and authoritarian fashion?
> It would seem that recognition of the existence of such institutions
> under capitalism would strengthen the argument that returns to
> capital are due to the exploitation of workers.


Fuck you Robert.  I own my own company and if one my contract employees does
not perform they are fucking out the door.  So screw off and die you
worthless piece of crap.  I am a dictator in my business.  That doesn't mean
that I don't have to treat people kindly and encourage good work and reward
it it only means that I make the rules and if you are working for me and
don't play by my rules you are fired.


[snip of moronic argument about the economy emerging by spontaneous
generation]