Labour is effort and energy expended for someone else with the expectation of fair exchange of time (Sharp, 2009). Fair exchange assumes an equal exchange of labour -- one hour of my labour building a house, for one hour of your labour baking bread. Labour (i.e., work for others) is the basis of, and foundation for, economies.
Sosteric, Mike (RSGME). The Rocket Scientists' Guide to Money and the Economy. Lightning Path Press. More Info