Originally Posted by
bigbossman
The flaw here is that in most businesses, the person "owning the means of production" also is involved with the day-today work load/issues. See most any small business as an example.
Ah, but the small businesses you're talking about are not "most businesses," but rather few and far between. We live in an economy dominated by large corporations. Also, most small businesses do run under the model I put forth - the owners make decisions, own the means of production and reaps the surplus value, the employee does the labor that creates the surplus value.
The other flaw - if I read your inference right - is that in your model the "owner the means of production" is taking advantage somehow and not honestly due a profit. This is conception false on many levels.
You did read the inference right. But it's an opinion. It can't be false (or true).
I don't see either one as more respectable than the other (assuming that both are honest and not crooks)- they are just different business models.
Ditti. And historically the arbitrage business model has been looked down on as less respectable than the "productive capitalist." Though with the financialization of our economy that's taken place over the last 30 years, it's also what most of the capital flowing around the world is involved in. Witness the growing anger against "banksters." Not hard to draw a line between what they're involved in (speculation, arbitrage, "money out of money") and the annoyance with the seller on CL who doesn't even unload the bikes from the bike rack. Though I should be clear: the CL arbitrage entrepreneur isn't deserving of nearly as much scorn.