You think we are discussing socialism?What Ted has done here is reduced the value of the table by eliminating labor time. See how that works? And he is going to force the other wood shops to cut their labor time so they can compete. This is how the concept of socially necessary labor time develops.Say we have Ted. Ted, over the years, has used much of his spare income to build a workshop attached to his home. He has built, bought, and otherwised compiled the machinery necessary to build furniture as efficiently as any one man might.
Then we have Chuck. Chuck picks wild berries on public land. He does this with only his hands and a small wicker basket.
In his workshop, Ted is able to make a table in 5 hours that would take someone without Ted's workshop facilities 20 hours to make. Since he makes it in 5 hours, is the "intrinsic value" of this table, in your mind, still worth only whatever amount of wild berries Chuck could harvest in 5 hours?
And this doesn't even account for the fact that building furniture properly isn't simple work. Proper carpentry is a skill earned through thousands of hours of experience. Any asshole with 2 hands can pick berries and drop 'em in a basket.
Another wood shop could decide not to compete and build a hand crafted table that requires more time to produce. More labor time equals more value. Of course this is where the subjectivity of use value comes into play. Some people appreciate the higher value in the handcrafted table.
No, I don't see how that works. If he reduced the value of the table by reducing the labor time, what would be the incentive to build the facilities in order to produce things more efficiently? You won't get anything more for having a greater production capacity, so why put in the effort? You're pushing for a system that rewards people for working stupid and dragging their heels. That's exactly why productivity drops to shit in communist countries, because "socially necessary labor time" means "work slower, you'll get paid the same", only in your particularly iteration, it's even worse, "work slower, you'll get paid MORE."It's driven by competition. He does it because he seeks advantage over his competitor. How do you not see that?No, I don't see how that works. If he reduced the value of the table by reducing the labor time, what would be the incentive to build the facilities in order to produce things more efficiently? You won't get anything more for having a greater production capacity, so why put in the effort?
The incentive is to build things cheaper which will give him an advantage in the marketplace, for a time, until his competitors catch up. Once they do the socially necessary labor time to produce the commodity decreases.
It's not oversimplification, it's fundamentals. Get you some.
It's the biggest load of flim-flam I've seen in a while - and that's counting Trump.
Seriously, Tehon - if you're seeing your self as an ambassador for socialism, don't quit your day job. You make it sound about as legit as Amway.
The labor theory of value relates to the capitalist method of production.
Fundamentals.
Fundamentally vague and evasive. I don't know if you're doing it deliberately, but you're equivocations don't clarify things - they obfuscate. Is that your intent?