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It never ceases to amaze me how most people in capitalist (all) countries continue to work under the folk-belief of a labor theory of value. How much effort yo
by ACow_Adonis 9y ago
It never ceases to amaze me how most people in capitalist (all) countries continue to work under the folk-belief of a labor theory of value.
How much effort you put in has, at best, a second order relation to reward.
Far stronger effects are supply, demand, mechanism of action, distribution of initial resources, and social factors.
- ixtli 9y agoIt's pretty shocking. What becomes _infuriating_ is when they say this while also defending their right to own the product of that labor because they were there first or happened to present capital in the right place at the right time.
- jadedhacker 9y agoI thought the idea of a labor theory of value wasn't related to the actual effort you put in, but more that value is related to how much average social labor would be currently invested to acquire or produce something. So if you have a machine you can pull a lever to produce 10 items in 1 second, each of those items acquires 1/10th of a human-second of value. I get though that those other conditions matter more in terms of the actual price though. Marx distinguished between "value", "use-value", and "exchange-value", the latter being price, the second being required for value or exchange value, and the first being used as the basis of comparison between goods. I took it to mean that exchange value is like temperature while value is like heat. Can you elaborate? I'd like to know more about how these different theories interact.