29 Dec 2021 3:42 pm
The American Idea
At the heart of the American Idea is the Right to Property. As Jefferson paraphrased, if someone whittles a stick into an arrow with his own labor his right to that arrow and all the wealth entailed is sacrosanct. If he uses his arrow and his skill at hunting to fell wild game it too becomes the product of his labor and he may rightfully use it to feed his family or barter in free trade for something he deems of more value.
This anecdote was proffered by Jefferson to explain the bedrock of our system. This applies to all product of one's labor. Whether we trade our labor product for an agreed upon wage or sell such product directly. Under the American Idea no one else has the right to object or lay claim to the proceeds. Michael Jordan made the decision to apply his labor to developing the skills required to place a ball through a hoop (and all the other talents necessary to play basketball). At some point it turned out an owner of a basketball team thought it in his own interests to pay a freely agreed upon wage to Michael in exchange for his talents on the court. Now I consider $26 Million/year to earn for playing basketball astounding. Truth be told I am jealous as hell and it is only human nature to want someone to force Michael to hand over the product of his labor to me. I might even be willing to share in the theft of his wealth. But I and others have NO RIGHT to decide what is a fair price to pay for Michael's talents. Nor does he have any say in what I agree to receive in return for my labor. This is the American Idea. It is capitalism in its truest form.
At the heart of the American Idea is the Right to Property. As Jefferson paraphrased, if someone whittles a stick into an arrow with his own labor his right to that arrow and all the wealth entailed is sacrosanct. If he uses his arrow and his skill at hunting to fell wild game it too becomes the product of his labor and he may rightfully use it to feed his family or barter in free trade for something he deems of more value.
This anecdote was proffered by Jefferson to explain the bedrock of our system. This applies to all product of one's labor. Whether we trade our labor product for an agreed upon wage or sell such product directly. Under the American Idea no one else has the right to object or lay claim to the proceeds. Michael Jordan made the decision to apply his labor to developing the skills required to place a ball through a hoop (and all the other talents necessary to play basketball). At some point it turned out an owner of a basketball team thought it in his own interests to pay a freely agreed upon wage to Michael in exchange for his talents on the court. Now I consider $26 Million/year to earn for playing basketball astounding. Truth be told I am jealous as hell and it is only human nature to want someone to force Michael to hand over the product of his labor to me. I might even be willing to share in the theft of his wealth. But I and others have NO RIGHT to decide what is a fair price to pay for Michael's talents. Nor does he have any say in what I agree to receive in return for my labor. This is the American Idea. It is capitalism in its truest form.