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George Reisman, Socialism: Armed Robbery and Murder Based on Delusion and Ignorance.

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Published on 06 Feb 2020 / In News & Politics

This video shows that to establish socialism, understood as government ownership of the means of production, large-scale armed robbery and murder are required. It also shows that the desire to establish socialism in the first place, rests on a delusion: the delusion that profits are stolen from wages. The truth is that profits, not wages, are the original and primary form of labor income.

Reversing the greatest error in the history of economic thought, it propounds the author's doctrine, which he has fully developed in his book Capitalism: A Treatise on Economics, that the workers in Adam Smith's "original state of things," and in Marx's "simple circulation," did not earn wages when they sold the commodities they produced. On the contrary, they earned SALES REVENUES. And the entirety of those sales revenues was profit, because there being no capitalists in the conditions alleged by Smith and Marx, there was no buying for the sake of selling and thus no costs of production to deduct from the workers' sales revenues Thus, the appearance of capitalists on the scene, with their buying of labor and capital goods, served to create wages and costs on account of capital goods, and thereby to reduce the proportion of sales revenues that is profit, inasmuch as profits now reflected the deduction of these costs from sales revenues..

Consistent with the above, the video further shows that the wealth of capitalists, almost all of which is invested in means of production, is the foundation of the supply of products and the demand for labor in the economic system and that the greater it is, the higher is the standard of living of the average wage earner, as the result of a combination of lower prices, due to more production and supply, and higher wages, due to more demand for labor.

"If you want to fight the socialist tide, watch and urge others to watch George Reisman,"Socialism: Armed Robbery and Murder Based on Delusion and Ignorance." .It's at https://youtu.be/4MKBAMjnx0s via
@YouTube"

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