On Marx's Labor Theory of Value

Discussion in 'Economy' started by Toro, Jan 31, 2009.

  1. Toro
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    Toro Diamond Member

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    Good example of how Marx's labor theory of value can lead to a sub-optimal outcome of wealth and production. But then again, students of economics know this.

    There is a numerical example of why this is so, then the author goes on

    Grasping Reality with Both Hands: Lire le Capital: Mail Call

    I agree.
     
  2. Diuretic
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    Diuretic Permanently confused

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    Wouldn't that be impossible? They'd all be dead well before ten years was out.
     
  3. dilloduck
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    dilloduck Diamond Member

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    The defintion of starving now means you don't own a plasma TV, two SUVs and haven't had cosmetic surgery. We're spoiled, greedy and envious.
     
  4. Skull Pilot
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    Skull Pilot Platinum Member

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    I read a bit on this same subject in Inclined to Liberty

    The author used a bit more comic relief to make the same point. He used painting as an example, i'll use something more germane to me.

    If Marx is right, the chair that , as an amateur wood worker, takes me 40 hours to make would be worth more than the chair a master woodworker can make in 10 hours.
     
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  5. Toro
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    Toro Diamond Member

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    He's being figurative, not literal.
     
  6. Diuretic
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    Diuretic Permanently confused

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    I'm not so sure :lol:
     

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