It was not only academics who defended this view. Owen D. Young (1874-1962) was an American industrialist, businessman, lawyer and diplomat, who served for ten years as a chairman of General Electric. But he was also a progressive thinker, who had the following to say about labour renting capital (excerpts from Owen D. Young and American Enterprise, A Biography):
Today, capital predominately hires labour. To avoid personification, maybe it is better to say that capital owners, that is, owners of the means of production, hire workers for a fixed wage. Workers are, in such a rental system, rented and to the extend of the contract owned by the capital owners. Both liberals like Mill and radicals like Marx have argued against renting people. They have all argued for the alternative, which is to rent the capital, which is, unlike the labour, alienable from its owners.
It was not only academics who defended this view. Owen D. Young (1874-1962) was an American industrialist, businessman, lawyer and diplomat, who served for ten years as a chairman of General Electric. But he was also a progressive thinker, who had the following to say about labour renting capital (excerpts from Owen D. Young and American Enterprise, A Biography):
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Prepogosto se zgodba interpretiranja statističnih modelov, tudi v ekonomiji, zvede zgolj na preverjanje velikosti p-vrednosti. Pozablja se, da so slednje v nekaterih primerih bolj kriterij informativne vrednosti, ki nam lahko pomaga pri interpretacijah, vendar le, če se zavedamo njihovih značilnosti in omejenosti, predvsem pa ključne prednosti teorije pred statističnimi modeli – pravo znanje lahko nastaja le ob sodelovanju obeh. Imagine yourself walking down the shady streets of St. Petersburg, late at night when the city has long gone fallen asleep. Like always at this hour, you are occupied with the most random thoughts, ranging from your most recent failure to cook the soft-boiled eggs just right, to your success at decrypting one of the most complex logical paradoxes of the century.
Out of nothing, a man appears in front of you. With a coin in one hand and an infinity bag (a bag with a finite area and an infinite volume) filled with banknotes in another, he asks you the following. |
AuthorsMaruša Conič Archives
March 2019
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