joseph salerno

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Why Marx’s Exploitation Theory Is Wrong,

Joseph Salerno explains Böhm-Bawerk.

This whole idea of a ‘working class’, in a modern market economy; it irritates me to no end. There is no working class in the market economy, using the term in a sense of a group of people who earn money only from their labor, and have absolutely no savings, no wealth holdings of any kind, no durable consumer goods, no pension funds, and so on. There really is just a middle class, who produce the wealth, and then there’s a parasitic class, both of politicians and bureaucrats on the one hand, and then the poorer people who don’t have jobs and so on, who live off welfare, who are the wards of the state. Those two groups are parasitic off the middle class–the wealth producers and holders.