It is generally considered that profits come from investment of money in industry, finance or agriculture. Few would question that.

But there is another form of Investment that is seldom recognized but which is just as important - labor. Labor is taken for granted - sort of as a recipient of the product of industrial production when jobs are available, that is. It is easy to think there would be no jobs if there weren't factories to offer jobs. Nowadays we see jobs being lost by the thousands as factories close or cut production - or, as a functioning factory cuts work force in order to increase profits.

We seldom ask the question, how does the factory get there in the first place? It gets there by the efforts of labor. It does not get there by a financier putting some money on the site and waiting for the factory to take root and grow. The only thing that makes it grow is labor. The same goes for all the materials used and the transportation of the materials to the site. Labor digs the ore, cuts down the trees, produces all the other necessary materials needed and transports them.

Now this is not to say that money is not necessary for production. But it is to say labor is a totally indispensable ingredient in all productivity. Every capitalist agrees that profit depends upon labor productivity. This is the only reason the PMA is demanding the introduction of technological innovation in checking. It makes the necessary labor part of production less expensive and increases profits by replacing workers with technological instruments. This is the rule under the capitalist system. - founded on profits legal or illegal. We recognized that when we signed the M&M agreement m 1960.

For instance take a look at the very small share of productivity that goes to workers in the maritime industry as compared to shipping line income. By 1967 before M&M got fully under way longshore workers got $2.62 for every $100 of cargo. Now those workers get 30 cents in wages for every $100 of cargo. If benefits are added in, they get 55 cents. Productivity was enormously increased and so were profits. In other words the shipping lines are not hurting. Their labor costs have gone through the floor. Yet as the system operates they want more and more. Where and when will it end? It will end when we take the profit system out of society. *