2 ms·
I disagree about innovation in automation creating a contradiction in LTV. LTV states that the exchange-value of goods is determined by the socially necessary a
by praptak 11mo ago
I disagree about innovation in automation creating a contradiction in LTV. LTV states that the exchange-value of goods is determined by the socially necessary amount of labor needed to produce them. Automation only means that the socially necessary amount of labor changes, so the exchange-value changes too.
Also in Marx theories exchange-value is something different than use-value, the latter being unaffected by automation.
- js8 11mo agoWell, but under free market conditions, prices based on use and exchange value should equalize. So the paradox will appear, unless you have a planned economy. Maybe Marx resolved the tension by converting the contradiction into a (wider) capitalism contradiction, and was happy with that solution. Whether it makes OP happy in the age of AI ("everything is capital and you're screwed if you don't own it"), not sure.