return to list of latest ideas

Single Idea 19880

[catalogued under 25. Society / D. Social Rights / 3. Social Equality / d. Economic equality]

Full Idea

It is labour that puts the difference of value on everything. ...Whatever bread is worth more than acorns, wine than water, that is wholly owing to labour and industry.

Gist of Idea

All value depends on the labour involved

Source

John Locke (Second Treatise of Government [1690], 040)

A Reaction

In capitalism this is nonsense. Supply and demand fix all the values. Locke has slid from labour bestowing ownership to labour bestowing value. No one gets paid on the basis of how hard they work, except on piece rates.

Book Reference

Locke,John: 'Two Treatises of Government' [Everyman 1988], p.136