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91d71bb
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From Smith's principle that labor is the true measure of price--or, as Warren phrased it, that cost is the proper limit of price--these three men (Josiah Warren, Pierre-Joseph Proudhon and Karl Marx) made the following deductions: that the natural wage of labor is its product; that this wage, or product, is the only just source of income (leaving out, of course, gift, inheritance, etc.); that all who derive income from any other source abst..
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socialism
labor
property
ownership
economics
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Frank H Brooks |