Agreed, except it's not labor, it's violence.

All real world power, including ownership (both physical and intellectual), is based on the ability to use violence.

As long as the majority - normal working people - have the potential to do more violence than those who want to control us, we have negotiating power. Minimum wage, 8 hour day, etc - those were all negotiated with the alternative being that those who wanted to pay us less and work more got killed.