Wm:CreatingAndSharingWealth - 0 views
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Land, Capital, Wages and Profit
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JosephSchumpeter suggested that the rewards of...
Land (ownership) are RentCapital ... InterestLabour ...WagesTechnically, Land and Capital are Assets (a type of Wealth) that can be owned, unlike Wages. Profit is generally an "entitlement" that, once received, becomes part of an entities Capital.
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However Labour is owned by the worker. He or she gives it as service to be paid for as Wage.
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Subsequent refactoring effort is reduced....