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Marx's theory of surplus value, as expounded in Das Kapital, was what really opened my eyes when studying Economics at university. After reading about his labou
by cutler 4y ago
Marx's theory of surplus value, as expounded in Das Kapital, was what really opened my eyes when studying Economics at university. After reading about his labour theory of value I realised all the textbook economics I'd been spoon-fed from Lipsey's "Positive Economics" during my 2 years of A-levels (UK) was just an apologetic for the prevailing capitalist system.
- deleted 4y ago[deleted]
- msla 4y agoHow does the Labor Theory of Value account for the value of art?
- cutler 4y agoMarx was primarily addressing the value of commodities, ie. economic value, but extending it to works of art: the number of socially necessary hours required to create a piece of work. That's not the same as market value though both exist. Art creation isn't really addressed by this as the labour pool for a piece of art is exactly one whereas the Labour Theory of Value is about social production.
- msla 4y ago> the number of socially necessary hours required to create a piece of work. Who decides how many hours of work spent on a piece of art are socially necessary? > Art creation isn't really addressed by this as the labour pool for a piece of art is exactly one This is definitely not true of things like films and novels.
- cutler 4y agoSocially necessary is an averaging concept and is an essential part of the theory. Look it up in Das Kapital. Marx was concerned with social production, not individuals.
- msla 4y agoSo it's a political idea, as opposed to an economic one.
- cutler 4y agoNot really. Most economic theories deal with the social dimension of production. Then again, we tend to forget that Economics for a long time was known as Political Economy as it's difficult, if not impossible, to divorce the two.
- msla 4y agoExcept, as an economic theory, it's superseded. People only hold to it out of politics.