this post was submitted on 06 Dec 2024
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If the people putting money in deserve to be paid for that money, it can be treated as a fixed term loan, with an established interest rate. That makes it a business expense.
Profit is what's left over after everyone is paid for their work, and the costs of materials, housing, and maintenance - invluding the maintenance of debts - are covered. It's either what you've over-charged your customers, or underpaid your employees.
And that's wrong.
The most amazing part is not even that long ago, everyone agreed this is how it worked, even the business owners. I remember recently watching the 1923 silent film “Safety Last!” starring Harold Lloyd. I was very struck by a particular scene in the film where the owner of the store Harold Lloyd works at says:
“I’d give $1000 for a new idea that would attract an enormous crowd to our store. Something is wrong with our exploitation! We simply are not getting the publicity that our position in the commercial world calls for.”
This character is not presented as some kind of villain or saying something wrong. He’s just talking about how everyone understands business to work, by exploitation, which has always simply meant taking advantage of some kind of opportunity, even when people like Marx talked about it.