"I endorse Austro Libertarian Magazine 100%" —Tom Woods

Worker’s Owning their Own Capital

"I endorse Austro Libertarian Magazine 100%" —Tom Woods

Worker’s Owning their Own Capital

Share on facebook
Share on twitter
Share on email
Share on pocket

Per Bylund makes a great observation in a recent post on the alleged exploitative nature of the “gig economy.” The interventionist (usually on the left) storyline is that the gig economy makes people accept lower wages; that is, they complain that companies such as Uber and Lyft ought consider the drivers to be employees rather than contractors. They desire to consider them contractors, so the story goes, because they are “able to get away with” paying them less money and leverage a situation in which the drivers own the vehicles they are to drive with.

But it’s funny because we always hear about how all the capital is owned by the “rich,” by the capitalists. And yet, technology and overall productivity has led to such a remarkably decentralized division of labor that, greater than anytime in history, advanced capitalism has actually allowed these “capital goods” (cars) to be owned by the workers themselves.


I find the argument that the ‘gig economy’ makes people accept lower wages highly fascinating. Suddenly it is a problem to these critics, mainly on the left, that ‘workers’ own their own capital.

When personal property becomes capital, a source of income, then the obvious implication is a decentralization of capital ownership.

Love it.

Austrian Economics | Property-Rights | Paleo-Culture

Austrian Economics | Property-Rights | Paleo-Culture

Essays on Economic, Political, and Social Theory

Enjoying AL?

Support Us

Do you find value in what we do? Please consider supporting us monthly or with a single contribution to our efforts.


Like our Facebook page! We want more people to see and share our output!


The Spring issue of our print publication is out now! Order today!

CJay Engel

Creator and Editor of Austro Libertarian. Lives in Northern CA, runs several businesses, spends time with his family, and reads as much economics and political theory as possible.

"Read AL Mag." –Ghandi