Labor Day is the first Monday in September, a day when we honor and celebrate all the value we get from the fact that other people choose to work, instead of just having fun. Yes those people were paid for their work, but taxes and economies of scale and clumping mean that the rest of us also gain. So why not give most of them a day off to honor their help?
So how about human capital? Maybe I should give my education a rest today. And actually, since I have a cold, I guess I'm giving my health capital the day off too.
This reminds me of the old "question" about whether property rights are rights of property...
Give our social capital the day off. Rob a bank.
So how about human capital? Maybe I should give my education a rest today. And actually, since I have a cold, I guess I'm giving my health capital the day off too.
What about land, the third factor of production? I suppose we can celebrate that on April 22.
Cynical prof, yes of course, since those savings are invested in ... capital! :)
Knackered, something like that.
Is giving capital the day off the same as raising interest rates? Or have I missed the point?
I think of capital in terms of "Wealth in the form of money or property, used or accumulated in a business by a person, partnership, or corporation."
Are the small proportion of American who have saved a large proportion of their income and now invest it also allowed to celebrate?