Home
In this issue
Nov. 25, 2009
Daniel Pipes: Islamism 2.0
JWisdom.com: No God … No You! Know God, Know You! with Rabbi Yitzchok Fingerer (8 minutes)
Nov. 24, 2009
Rabbi Avi Shafran : The Atheists' unintended gift
JWisdom.com: You are a Philanthropist with Aliza Bulow (5 minutes)
Nov. 23, 2009
JWisdom.com: Actually, it really is all about you with Rabbi Lawrence Hajioff
Nov. 20, 2009
Rabbi David Aaron: How to make every second of your life come first
Caroline B. Glick: Whither American Jewry
Nov. 19, 2009
Binyamin L. Jolkovsky: Please Listen to this Godcast (5 minutes)
Jonathan Tobin: ADL Crosses the Line with Report Bashing Obama Critics
Nov. 18, 2009
Rabbi Yonason Goldson: What Judaism has to say about the secret of the Mona Lisa's smile
JWisdom.com: The (Jewish) Dating Game with Rabbi Lawrence Hajioff (8 minutes)
Nov. 17, 2009
Steven Emerson: How Does the 4th Amendment Impact Terror Finance Investigations?
JWisdom.com: If Frank Sinatra married Edith Piaf with Rabbi Y.Y. Rubinstein (2 minutes) Life lessons from what would be regarded as the most inappropriate lyrics ever sung
Nov. 16, 2009
The Jewish Ethicist by Rabbi Dr. Asher Meir : When borrowing is stealing
JWisdom.com: Deconstructing faith with Rabbi Warren Goldstein (9 minutes)
Nov. 13, 2009
JWisdom.com Sarah's subjective reality with Rabbi Sroy Levitansky ( 6 minutes)
Caroline B. Glick: Obama's failure, Netanyahu's opportunity
Nov. 12, 2009
The Kosher Gourmet By Marialisa Calta : A sweet sweet potato treat
JWisdom.com Does God get tired? with Rabbi Harvey Belovski ( 5 minutes)
Nov. 11, 2009
Rabbi Avi Shafran: Jews and money: When anti-Semitism isn't
JWisdom.com Marriages are not made in Heaven with Rabbi Lawrence Hajioff (VERY fast 15 minutes)
Nov. 10, 2009
Michael Doyle: Author of book exposing CAIR ordered to remove supporting documents from Web
JWisdom.com If the creation so loudly shouts the existence of the Creator, why aren't more people believers? with Rabbi Naftali Brawer (9 minutes)
Oct. 29, 2003
Mortimer B. Zuckerman: Graffiti On History's Walls (MUST-READ!)

Jewish World Review Sept. 1, 2006 / 8 Elul, 5766

The labor theory of value

By Paul Greenberg


Printer Friendly Version
Email this article

http://www.JewishWorldReview.com | The old man had long ago given up fixing shoes and gone into another line of work, buying and selling and making a nice living. But he never found any other work that gave him as much satisfaction as putting new leather soles on a pair of uppers. Or putting a pair of Cat's Paw heels on shoes that still had a lot of wear left, and doing it neatly, surely, carefully — to last.


He loved the feel and aroma of new leather, the grain in the old. He was seldom as happy as when he could hold a pair of weathered shoes in his hands, turn them over and over, feel the tread, admire the workmanship, and sometimes even name the local shoemaker who'd done it.


He might not have used an elevated, latinate word like Labor for his work, but he knew it required patience, craft, concentration and something else. An ineffable quality. Call it self-respect, and a respect for the work.


His boys could remember those rare occasions when the old man lost his temper. Once he threw a poorly repaired pair of shoes against a wall in his fury. What a sloppy waste of good leather! What a waste of time and the customer's money!


In his old age, he was unable to contain his contempt when he would drive by one of those glittery new shoe stores that sold cheap, shiny imports — the cardboard kind sure to come apart in the first rain.


The old man took poor workmanship as a personal affront. Labor wasn't a factor of production to him, it was a calling — and a refuge.


The old man wasn't much on theory, but he understood value received, good will, repeat business, and, above all, the importance of trust between people — customer and merchant, worker and boss, lender and borrower. To him, commerce was friendship, trust, something that wore as well as the shoes he fixed.


All the talk he heard about labor and capital, first from agitators in the old country, and then as the standard fare of politics in this one, seemed textbookish to him — not really useful, like a good solid pair of shoes.


He had a more personal concept of how economics worked. He thought of the economy as a web of personal relationships: with his customers; with the workers he hired and trained and sometimes had to let go; with the banker he depended on to get him started in various new ventures; with the landlord who collected the rent from him; and with his own tenants after he began buying a piece of property here and there, and building some rent houses.


He liked his houses kept up, the lawns mowed, so they would look like something. Like a good pair of shoes.


Like most Americans, the old man was too deeply involved with labor and capital to think in those terms. Instead he thought of the people he dealt with as personalities — and judged them by their work.


There was Henry Johnson, for example, whom he'd hired as a boy, and taught how to fix shoes, and who would stay with him for the next 50 years through his various ventures, mastering one skill after another. The old man's apprentice would grow old with him, and die two weeks before he himself did. The family smiled knowingly. They knew Henry had just gone ahead, as usual, to scout things out.


There wasn't much theoretical about the way the old shoemaker lived and prayed and worked. Yet he would have understood instinctively the theory that a politician named Lincoln once propounded before a convention of farmers:


"(L) abor is prior to, and independent of capital; that, in fact, capital is the fruit of labor, and could never have existed if labor had not first existed; that labor can exist without capital, but that capital could never have existed without labor. Hence . . . labor is the superior — greatly the superior — of capital."


On this Labor Day, a great deal will be said in the usual press releases, but none of it will be more eloquent than work done well. To me, two new soles on a pair of well-shined shoes still say more than all the Labor Day speeches ever written.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

JWR contributor Paul Greenberg, editorial page editor of the Arkansas Democrat-Gazette, has won the Pulitzer Prize for editorial writing. Send your comments by clicking here.

Paul Greenberg Archives

© 2006 Tribune Media Services, Inc.

Insight (Our Columnists)

 Arnold Ahlert
 Mitch Albom
 Michael Barone
  Dave Barry
 Tony Blankley
 Andy Borowitz
 David Broder
 Stratfor Briefing
 Mona Charen
 Linda Chavez
 Ann Coulter
 Greg Crosby
 Larry Elder
 Suzanne Fields
 John Fund
 Frank J. Gaffney
 Lloyd Garver
 Jonah Goldberg
 Julia Gorin
 Jonathan Gurwitz
 Paul Greenberg
 Lewis Grossberger
 Victor Davis Hanson
 Betsy Hart
 Nat Hentoff
 David Horowitz
 Laura Ingraham
 Cheri Jacobus
Jeff Jacoby
 Paul Johnson
 Jack Kelly
 Ed Koch
 Ch. Krauthammer
 Michael Ledeen
 John Leo
 David Limbaugh
 Kathryn Lopez
 Rich Lowry
 Michelle Malkin
 Jackie Mason
 Dick Morris
 Bill O'Reilly
 Jim Mullen
 Clarence Page
 Kathleen Parker
 Dennis Prager
 Wesley Pruden
 Tom Purcell
 Jonathan Rauch
 Celia Rivenbark
 Robert Robb
 Cokie & Steve Roberts
 Pat Sajak
 Debra J. Saunders
 Culture Shlock
 Roger Simon
 Michael Smerconish
 Thomas Sowell
 Mark Steyn
 John Stossel
 Cal Thomas
 Bob Tyrrell
 Diana West
 Dave Weinbaum
 George Will
 Walter Williams
 Byron York
 Mort Zuckerman

'Toons
 Robert Arial
 Chuck Asay
 Baloo
 Chip Bok
 Dry Bones
  Lisa Benson
 John Branch
 Gary Brookins
 John Cole
 J. D. Crowe
 John Deering
 Brian Duffy
 Everything's Relative
 Mallard Fillmore
 Jake Fuller
 Bob Gorrel
 Joe Heller
 David Hitch
 Jerry Holber
 Steve Kelley
 Jeff Koterba
 Dick Locher
 Chan Lowe
 Ranan R. Lurie
 Jimmy Margulies
 Rick McKee
 Michael Ramirez
 Kevin Siers
 Jeff Stahler
 Ed Stein
 Danna Summers
 John Trever
 Gary Varvel
 Kirk Walters

Lifestyles
 How 2
 Lori Borgman
 The Savvy Consumer
 Elder matters
 Fixit
 Dr. Peter Gott
 GET A JOB! by Marty Nemko
 Richard Lederer
 Tech Maven
 Every Monday Matters
 Nutrition Myths
 Bookmark These
 Bruce Williams
 How Stuff Works