re: Why Do People Hate "The Rich" So Much?

I value labor by the end result.

If I pay jim $5 to cut and process a tree, bob $15 to build a chair, and pay $10 sally to run the front desk, then profit $20 on the chair, I got paid $20 for telling Jim, bob and sally what to do.

Some people think the value of the labor was higher than what Jim, bob, and sally were paid because it’s impossible to profit unless someone, somewhere in the chain is having value extracted.

This is, in fact, considered a very Marxist view. I don’t necessarily subscribe to it- I think the $20 I would be paid in the above scenario represents the labor performed wherein someone has to organize these people and assume levels of economic risk.