Finally in all of S2T's posts I find something with which I can unequivocally agree. I support both of these statements completely. Now, to understand their significance we must examine the meaning of the term "wealth." This is often wrongly equated with money, but money is only a symbolic representation of wealth. Wealth is created when someone creates or increases utility, or increases the potential for others to do so. The only people in our system who create wealth are those who actually work with their hands, or those who organize and direct that work to useful ends. When a person is restored to health, wealth (or actually potential wealth) is created. Wealth is only created when the work done results in something that is useful to people (in the widest sense; entertainment would be useful by this definition, since a person who is entertained is presumed to be a happier person, and therefore potentially more productive.)
Please understand that this is a very simplified description of what wealth is, and I do not want to get into a debate about the minutiae of what does and does not constitute wealth; my point is to distinguish wealth from money.
The class of people who emphatically do not create wealth is the ownership class. Now it is true that some of them are also managers, and in that role they may contribute to the creation of wealth, but in their role as owners they do not. This can be readily shown by pointing out that while workers are essential to the creation of wealth, and managers (to a limited extent) increase the effectiveness of wealth creation, it is quite feasible to do all of this without the participation of owners at all. The only function they fulfill is to provide the funds with which the business acquires the resources to get started in the first place (and/or to expand its operations once it is going.) The part that tends to get missed is that this is only one of the possible means to this end. It is true that our cultural training and the capitalist system we have been trained to worship make it difficult to discern alternatives, and harder yet to implement them, but even in today's world shining examples exist. Check out Mondragon in Spain for one such.
It is not money that is required to start a business, it is resources. These resources can be supplied under any number of arrangements that do not confer the rights of ownership. Under our capitalist system a person who performs this one function and then, with no need for any further involvement in the operation of the business, leaving everything to hired managers and workers, has nonetheless absolute control over the affairs of the business. He takes wealth created by others, giving them as recompense the absolutely smallest portion he can get away with and applies the rest to his own benefit. In doing so he commits a crime against those people, by s2t's own definition.
Patrick Brinton
PS: To head off responses on the lines of "but without (insert name of famous industrialist) there would never have been a (insert name of famous corporation) to create the wealth in the first place" I would respond that this argument is a red herring. We can readily separate out the various functions that might be performed by the same person, and the "visionary" function can certainly contribute to the wealth creation. However the person who perform this function (and might have a good argument for ongoing reward) unless he also starts out with his own money only retains what degree of ownership the people who supply the money allow him to keep.
PB