Is labour wealth? - page 2. | Bitcointalksearch.org

Alone055

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Quote from: Zoomic on September 21, 2024, 03:09:36 PM

Labour is used to create wealth, does it make it wealth?
People use palm fruits to make soap, does it mean palm fruit is soap itself?
If labor is wealth, how then do we classify forced labor?
Labor and wealth no doubt are related, but labor is not wealth. In most cases, labor alone can not create wealth. Labor works in conjunction with other factors of production to create wealth. Wealth can only be created if all these factors of production are applied productively and efficiently. Mere having that human mental or physical effort is not enough, if that alone was enough, we wouldn't be having lots of poor people on the streets.

Agreed. Labor is not wealth for the laborer, if it was, uneducated people who work so hard for small daily wages would be rich in no time because an average laborer works way harder than a person sitting in an office but the amount of money they both make has a huge difference. Labor is wealth for those who are getting it used for their benefits. Take the example of a factory where thousands of people work, make products, do packing and everything, even if most things are done through machines these days, there are still human workers in there managing everything. What do they get? An average monthly salary. Who earns most of the money being made by the products made in that factory? The owner of the company, of course.

So in the true sense, labor is used to create wealth but the laborer can barely use it for themselves because they don't have the necessary resources that they can use to make the most of their labor, so they are compelled to sell it to others to earn whatever they can. What's unfortunate is labor is very cheap anywhere in the world despite the hard work a laborer puts in it.

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Quote from: Nothingtodo on September 17, 2024, 07:38:01 AM

Japan, China and the United States of America are known as the most advanced and prosperous nations in the world because of their hard working people.

Well, the people who work hard as laborers in these countries mostly aren't their people, especially in the United States, but it's people who migrated to these countries for work because of low pay rates in their countries. It's basically about making the best of the laborers you have to improve your industries. Many countries are unable to do that, they don't pay their workers enough to motivate them to keep working hard and this makes them move to these developed countries to work there only so that they can earn what they deserve for their work.

So, it's true that labour is an asset and these major countries make sure they make full use of it this is the reason why these countries are so developed because they know that laborers are a moving force for any nation or any industry. It's about using the right resources at the right time and place to get full benefits from it and they do it very well.

Zoomic

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Quote from: Kcrypto18 on September 20, 2024, 09:18:11 AM

To me, labor is wealth. Arguing that labor isn’t linked to wealth doesn’t make sense because wealth can’t exist without work. Human effort, whether it's physical or mental, is always behind wealth creation. The idea that wealth can be made without labor ignores the fact that everything valuable comes from someone's hard work. You can't separate wealth from the effort that creates it.

Ain't you contradicting yourself?
Labour is used to create wealth, does it make it wealth?
People use palm fruits to make soap, does it mean palm fruit is soap itself?
If labor is wealth, how then do we classify forced labor?
Labor and wealth no doubt are related, but labor is not wealth. In most cases, labor alone can not create wealth. Labor works in conjunction with other factors of production to create wealth. Wealth can only be created if all these factors of production are applied productively and efficiently. Mere having that human mental or physical effort is not enough, if that alone was enough, we wouldn't be having lots of poor people on the streets.

Smartprofit

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Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Does slave labor create wealth for the slave? Of course not! Slave labor is a source of wealth for the slave owner.

Labor is one of the resources that can create wealth (either directly for the worker or for his master/employer).

Labor, being a resource, can be sold. Workers are hired for a fee by selling their labor. Entrepreneurs buy other people's labor, including this cost in the cost of goods produced.

However, you cannot get rich if you are only willing to work and are not willing to acquire new skills and knowledge. Highly skilled labor is paid better than low-skilled labor. Business is usually more profitable than hired labor. Investing usually brings more profit than business.

When formulating your life strategy, it is better to reduce the amount of your own labor in your income systems over time.

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Quote from: Albarq on September 17, 2024, 07:08:24 AM

Regarding work, everyone must do it, and those who have money from their parents, it is only temporary and still it is not a reference for someone not to work, and can run out in a certain time, always try in any case in work.

It sounds a little funny when you associate the problem of working with pocket money from parents Cheesy

, because people who can work and earn their own money should no longer need to expect pocket money from their own parents even though their parents are rich. I would even feel very embarrassed when I grow up and am able to work independently and still have to expect something like that from my own parents, because people who are able to work for themselves are people who are able to think independently and also have their own careers better through things that they are able to pursue well.

Kcrypto18

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To me, labor is wealth. Arguing that labor isn’t linked to wealth doesn’t make sense because wealth can’t exist without work. Human effort, whether it's physical or mental, is always behind wealth creation. The idea that wealth can be made without labor ignores the fact that everything valuable comes from someone's hard work. You can't separate wealth from the effort that creates it.

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Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Labour is wealth you can have money if they pay when you do labour or work for someone, so it is wealth, as long as you have a healthy body and can do anything to gain profit then that is a big wealth, because there is a lot of opportunities to earn, some people is born from wealthy family and they have big advantage but as long as we are free from sickness we are also lucky.

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Quote from: Aanuoluwatofunmi on September 17, 2024, 04:06:54 PM

Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Labour is wealth because in so doing, you're going to be paid from it and this will help you to gather up to a reasonable amount of money for achieving something in life, we don't have to undermine the labour market, because our physical, mental and natural way of thing is being channeled towards the dignity in labour from what we do to earn from, labour come come in any form, as long as you will be paid for doing something constructive and in others people demands.

Labor is not wealth it is the key component of producing wealth, but labor itself is not wealth. Just like income and wealth is different. Labor is an effort to generate income and yet income whichs is the indicator of financial security just like wealth, on its form cannot be considered as wealth.
According to this article: ‘What’s the difference between income and wealth?’ and other common questions about economic concepts

written in italic is an excerpt from the link above:
Income is not wealth because : "Income is the sum of earnings from a job or a self-owned business, interest on savings and investments, payments from social programs and many other sources. It is usually calculated on an annual or monthly basis."

While wealth is: "Wealth, or net worth, is the value of assets owned by a family or an individual (such as a home or a savings account) minus outstanding debt (such as a mortgage or student loan). It refers to an amount that has been accumulated over a lifetime or more (since it may be passed across generations)."

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Quote from: ivankoh on September 19, 2024, 06:11:21 PM

I think labor is wealth, whether little or much, wealth is also conceptualized as a type of property from low value to high value. For example, motorbikes, cars, gold, houses, land, farms... In fact, labor creates money and from there accumulates over time to have wealth. Whether you are rich or poor, you still have to work, the only difference is in the way you work.

I like the fact that you ended the statement by saying it all depends on the way you work hence I would have disagreed with you totally but perhaps you are also right in the end. Apparently labour isn't wealth but for one to be wealthy one has to labour. it's a two different thing altogether, when you labour in the wrong direction it can never create wealth for one to be wealthy you have make plans stick to those plans even when you are doing the hard labours hence you will be creating wealth but when you just work without direction it becomes a waste of effort and wealth can never be created out of such labour.

ivankoh

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I think labor is wealth, whether little or much, wealth is also conceptualized as a type of property from low value to high value. For example, motorbikes, cars, gold, houses, land, farms... In fact, labor creates money and from there accumulates over time to have wealth. Whether you are rich or poor, you still have to work, the only difference is in the way you work.

Miles2006

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In as much as labour is wealth not everyone get lucky with wealth although this has been from start when young people struggle to make wealth but some at the end don’t get to a high standard. A productivity mindset is more better because without the right mindset people intend to labour in vain, I have seen different people handling same business but the opponent make more profit and my question is why? Some people have the aim to work endless but lack a productive mindset for more increase. Wealth is something so unique and it comes differently because anyone can still acquire wealth without any labour etc secondly not all hardwork will guarantee wealth.

doomloop

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Quote from: Nothingtodo on September 17, 2024, 07:38:01 AM

Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Of course labor is considered an asset, labor is not only an asset but a valuable asset. The more industrious a nation is, the more developed it is. A lazy nation can never prosper on earth. Industrial revolution and agricultural development in a country requires an industrious nation. Japan, China and the United States of America are known as the most advanced and prosperous nations in the world because of their hard working people.

First of all, I would like to define if what is the word called 'asset'. An asset can be a crypto, gold, and real estate (only to name a few). It can also be something that can give us a reward or advantage. Labour can be one of it like you said because labour is usually a kind of job and when we have a job, we can earn a money. An industrious nation can also require more laborers. I think this is both positive and negative. So, those who are not industrious are not always negative and it doesn't always mean that they are lazy. Like it or not, there are still nations that are like that. They still exist on earth and they still can prosper on their own ways.

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Quote from: Aanuoluwatofunmi on September 17, 2024, 04:06:54 PM

Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Labour is wealth because in so doing, you're going to be paid from it and this will help you to gather up to a reasonable amount of money for achieving something in life, we don't have to undermine the labour market, because our physical, mental and natural way of thing is being channeled towards the dignity in labour from what we do to earn from, labour come come in any form, as long as you will be paid for doing something constructive and in others people demands.

After doing the work, of course, you will get paid according to the work we do and if we continue to complete a job well then we will be able to get an income that we can save for something we want and it is very unlikely that someone will be able to achieve what they want without having an income that can meet their desires therefore we must be able to have a skill that we can do Do it in order to be able to provide income to be able to achieve what we want and rightly as you said, whatever we do must be able to provide income and do not let us do something that does not provide income, of course this will be very disappointing after being tired of working not being able to get income from the job.

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Quote from: wahyuagung26 on September 17, 2024, 03:12:23 PM

Economy and needs require money in terms of sufficiency, those who work all pursue this with the needs and requirements that they must fulfill, everyone should have a job, because this is really what is needed from someone to earn money for them to survive, Work plays a very important role in this.

Continuing to rely on giving in the form of money from parents is an obligation for every family, but they must really be able to find work in the future, because this concerns the interests of each individual.

all the basics are for the sake of fulfilling needs, if it is not too important and urgent I think people will not try so hard to achieve it even though all of this has its limitations too. namely the physical abilities, knowledge, and expertise of each person are different.

One thing I believe is that luck has been regulated and we only try as best we can and be grateful for what we have received later, whether the amount is small or large.

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Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Labour is wealth because in so doing, you're going to be paid from it and this will help you to gather up to a reasonable amount of money for achieving something in life, we don't have to undermine the labour market, because our physical, mental and natural way of thing is being channeled towards the dignity in labour from what we do to earn from, labour come come in any form, as long as you will be paid for doing something constructive and in others people demands.

wahyuagung26

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Quote from: Albarq on September 17, 2024, 07:08:24 AM

Regarding work, everyone must do it, and those who have money from their parents, it is only temporary and still it is not a reference for someone not to work, and can run out in a certain time, always try in any case in work.

Economy and needs require money in terms of sufficiency, those who work all pursue this with the needs and requirements that they must fulfill, everyone should have a job, because this is really what is needed from someone to earn money for them to survive, Work plays a very important role in this.

Continuing to rely on giving in the form of money from parents is an obligation for every family, but they must really be able to find work in the future, because this concerns the interests of each individual.

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Quote from: Nothingtodo on September 17, 2024, 07:38:01 AM

Of course labor is considered an asset, labor is not only an asset but a valuable asset. The more industrious a nation is, the more developed it is. A lazy nation can never prosper on earth. Industrial revolution and agricultural development in a country requires an industrious nation. Japan, China and the United States of America are known as the most advanced and prosperous nations in the world because of their hard working people.

Every country will always think of employment for its people so that prosperity can be felt together. I agree with you that the developed countries are mostly because the people are diligent and working hard. But in essence everyone is indeed required to work in any way as long as it does not conflict with the law in the country. In addition, the government is also obliged to think about how the people can get a job to reduce the high crime rate which of course will impact on the balance of the country itself.

Yucky

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Labour, which most people will interpret as, working hard physically, does not equal to wealth. Some people that toy year in, year out, month in, month out, still feed from hand to mouth, they barely have enough for themselves, talk more of catering for their family.

What I consider wealth is dignity in labor. When whatever you are doing, you are not straining your physical strength, like you are not pushing yourself to the limit where your physical ability is exhausted. You are applying a bit of physical with your mental knowledge, and you are making money from it, and over time, you invest and your money starts making more money for you.

So, either way you have to labour, but it mustn't be so physical, and it must be hard labour. It shouldn't stress you out physically. I prefer working hard mentally with a little physical effort, maybe stepping out for certain important meetings, getting my hands dirty once or twice, but toiling out under the sun from nine to five does not equal to wealth at all

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Quote from: Kelward on September 12, 2024, 03:43:56 AM

Many people in underdeveloped countries works hard meaning that they labor but they are not wealthy individuals because despite their struggling if their work stops their conditions will become worse off. Wealth is after using your skills to earn money then you can give your children quality education, have assets that can last into the future and you can rely on. People can inherit wealth while others have to struggle to make and build wealth, it doesn't come by work or labor alone.

The concept for people who are at a lower economic level is clearly making work a part of themselves because they must be aware that when they work then they will indirectly get wages in the form of money from it in order to survive in the life they are doing now because until now we are even a lot of people who have to die due to their inability to find money and they are clearly required to work to make their lives better even though in the end it can only be sufficient for their daily lives.

This is a form of life's journey because if we come from people with low economic levels we are indirectly required to think about how we can eat and support our families tomorrow and in the end money is always a problem that cannot be solved so working is a mandatory thing to support it.

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Quote from: premier97 on July 14, 2024, 12:44:59 PM

Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort both mental and physical.

Of course labor is considered an asset, labor is not only an asset but a valuable asset. The more industrious a nation is, the more developed it is. A lazy nation can never prosper on earth. Industrial revolution and agricultural development in a country requires an industrious nation. Japan, China and the United States of America are known as the most advanced and prosperous nations in the world because of their hard working people.

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