Why is John Locke's labor theory relevant to modern management theory?

John Locke's labor theory emphasizes that individuals have a natural right to the fruits of their labor, which aligns with the idea that personal effort and productivity can lead to individual wealth. In the context of modern management theory, this concept is relevant because it highlights the intrinsic motivation that employees may have to increase their output and productivity in hopes of gaining personal and financial rewards. This perspective fosters a work environment where individuals are driven to excel not only for their organizations but also for personal gain, which can ultimately lead to higher overall performance and satisfaction in the workplace.

The other concepts presented do not resonate as closely with Locke's labor theory. The notion of collective ownership undermines the individualistic principles that Locke championed, while advocating for labor regulation does not directly stem from his views. His philosophy generally supports minimal state intervention in economic affairs, focusing instead on individual rights and freedoms, which makes the emphasis on wealth creation through personal effort the most relevant to modern management practices.