In Chapter 1 of Capital, Marx see-saws between the pluses and minuses of the labor theory of value before deciding in its favor, without adequate explanation.
Yes, that's as far as I got. The impenetrable language, but, My Dear! And when I realised that he really did mean LTV then I gave up. Clearly and obviously wrong, the rest if it, given that the LTV is wrong.
Hey, sure, it might be right in some philosophic sense. But it's not among humans. Because LTV isn't how humans assign value. So, the theory's useless in describing an economy where it is humans doing the interacting.
In Chapter 1 of Capital, Marx see-saws between the pluses and minuses of the labor theory of value before deciding in its favor, without adequate explanation.
Yes, that's as far as I got. The impenetrable language, but, My Dear! And when I realised that he really did mean LTV then I gave up. Clearly and obviously wrong, the rest if it, given that the LTV is wrong.
Hey, sure, it might be right in some philosophic sense. But it's not among humans. Because LTV isn't how humans assign value. So, the theory's useless in describing an economy where it is humans doing the interacting.