employer coercion

Capitalism versus Freedom

Capitalism is not freedom. Capital is a condition of freedom under capitalism.

What does that mean?

In order to have “freedom” of choice, you must have capital (wealth/property).

For example, those with capital can choose not to work.

Those without capital must find employment in order to buy food, clothes, shelter, etc. or to maintain acceptable living standards, although workers often live in poverty anyway. This means they have to sell their ability to work. The capitalist exploits the worker.

Employment does not provide workers with a wage that would allow them to accumulate enough capital to leave employment. This is a form of coercion, which holds the capitalist economy together.

In other words, the purpose of the wage is to ‘keep the labourer in bare existence as a labourer’.

This is known as ‘wage slavery’.