Like Piketty, you have repeated the classic Marxist — and neoclassical — error of conflating, in…
Roy Langston

It sounds like you’re upset that capital income was referred to as passive? I suppose it’s true that the capitalist is more active in the contribution of real capital.

At best, the capitalist organizes production through the exchange of ownership claims. But they cannot be said to “provide” real capital. Real capital is produced by labor employing other real capital, also produced by past labor.

The role of the capitalist is dependent on the social organization of property, namely, private ownership in production and distribution. But the role of organizing production and distribution can be altered to replace the capitalist (as well as the rentier) by the democratic organization of the real producers. Then income can be distributed both by right (UBI) and by labor.

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