3 ms·
Rejecting the labor theory of value was a choice, not some eternal truth of economics. There’s no reason a society couldn’t be organized around labor values—ot
by TimorousBestie 1y ago
Rejecting the labor theory of value was a choice, not some eternal truth of economics.
There’s no reason a society couldn’t be organized around labor values—other than the fact that such societies (or the movements that would give rise to them) are routinely destroyed or destabilized by one pre-existing superpower or the other.
Capitalist realism, in other words.
- Spivak 1y agoYou could organize an economy around labor-as-value, at least in terms of how workers are paid and goods are priced, but you have to be extremely diligent that you're directing work towards useful endeavors. You can't escape that people will evaluate how useful goods are to them. Goods which are priced way lower than their utility will get snapped up, goods priced way higher than their utility will go unsold.