When an individual invests in the development of his or her productive capabilities, he or she may expect to reap returns in the form of stable and remunerative employment that will permit a decent standard of living over a period of some forty to fifty years.
For many individuals, such economic security represents the foundation for the achievement of other goals such as work satisfaction, luxury consumption, and social mobility for themselves or their children. Through inheritance, gambling, theft, extortion, speculation, and so on, individuals can reap where they have not sown. But for most people in a capitalist society, the development of productive capabilities is a prerequisite to stable and remunerative employment, which is in turn the primary means to achieve personal goals.
Friday, October 19, 2007
The Story of Our Lives?
I have never read it put so succinctly, but isn't this the story of our lives? From William Lazonick's Business organization and the myth of the market economy: