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Seventeenth-century philosopher John Locke statedthat as much as 99 percent of the value of any useful product can be attributedto “the effects of labor.” For Locke’sintellectual heirs it was only a short step to the “labor theory of value,”whose formulators held that 100 percent of the value of any product is generatedby labor (the human work needed to produce goods) and that therefore the employerwho appropriates any part of the product’s value as profit is practicing theft. Although human effort is required toproduce goods for the consumer market, effort is also invested in makingcapital goods (tools, machines, etc.), which are used to facilitate the productionof consumer goods. In modern economiesabout one-third of the total output of consumer goods is attributable to theuse of capital goods. Approximately two-thirdsof the income derived from this total output is paid out to workers as wagesand salaries, the remaining third serving as compensation to the owners of thecapital goods. Moreover, part of thisremaining third is received by workers who are shareholders, pension beneficiaries,and the like. The labor theoryof value systematically disregards the productive contribution of capitalgoods—a failing for which Locke must bear part of the blame.
Q8: The author of the passageis primarily concerned with A. criticizing Locke’s economic theories B. discounting the contribution of labor in a modern economy C. questioning the validity of the labor theory of value D. arguing for a more equitable distribution of businessprofits E. contending that employers are overcompensated for capitalgoods
答案:B 我选了A
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