What are the common wages of labour, depends everywhere upon the contract usually made between those two parties, whose interests are by no means the same. The workmen desire to get as much, the masters to give as little as possible. The former are disposed to combine in order to raise, the latter in order to lower the wages of labour.

It is not, however, difficult to foresee which of the two parties must, upon all ordinary occasions, have the advantage in the dispute, and force the other into a compliance with their terms. The masters, being fewer in number, can combine much more easily; and the law, besides, authorizes, or at least does not prohibit their combinations, while it prohibits those of the workmen...

We rarely hear, it has been said, of the combinations of masters, though frequently of those of workmen. But whoever imagines, upon this account, that masters rarely combine, is as ignorant of the world as of the subject. Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labour above their actual rate... Masters, too, sometimes enter into particular combinations to sink the wages of labour even below this rate. These are always conducted with the utmost silence and secrecy, till the moment of execution, and when the workmen yield, as they sometimes do, without resistance, though severely felt by them, they are never heard of by other people...

A man must always live by his work, and his wages must at least be sufficient to maintain him. They must even upon most occasions be somewhat more; otherwise it would be impossible for him to bring up a family, and the race of such workmen could not last beyond the first generation.

Ah shit, never mind. This was from Adam Smith's The Wealth of Nations

[–] MonkeMischief@lemmy.today 2 points 1 day ago

Wow, that was smooth. Points for impact!

I wish these minds could have been put in charge for arguing for and hashing out a combined sensible economic system, as they might have had differing ideas, but all clearly wanted a system that was optimal for human beings to thrive in.

Instead, these fellows are deified as proxy prophets, excuses and motivations for wars and slavery, by those who seek to enrich themselves entirely at the majority's blood, sweat, and tears.

[–] bitjunkie@lemmy.world 3 points 2 days ago

I'm on the fence about this, because as far as I understand, the regulatory mechanisms that end up serving as the limitations you're talking about are actually contrary to the system's core principles.