Word: laborerã
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Though it sounds nice to say that each laborer??€™s compensation should reflect his needs, the implementation of this view would entail losing all of the benefits of the division of labor. Instead of flowing to those jobs that will produce the most valuable goods for consumers, labor would be allocated according to the politicized vagaries of some kind of official bargaining process. Who would gain under this framework? If the experience of Cuba, North Korea, Soviet Russia and Communist China is any guide...
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