4 ms·

Ah, the labor theory of value. That makes sense. It’s totally incoherent and unreliable as an explanation for an economy, but it explains the comments in this

Ah, the labor theory of value. That makes sense. It’s totally incoherent and unreliable as an explanation for an economy, but it explains the comments in this thread.

inigyou 4mo ago
Did you reply to the wrong comment by mistake?
- twoodfin 4mo ago
  What would that $500 not being “extracted from the value chain” look like?
  - inigyou 4mo ago
    It would either be passed along the chain or it would not enter the chain.
    - twoodfin 4mo ago
      Seriously, what does “passed along the chain” look like in your example?
      - inigyou 4mo ago
        Given to the people who create the value.
        twoodfin 4mo ago
        How is that distinct from the labor theory of value? In your model, who’s creating the value other than the labor?
        inigyou 4mo ago
        A GPU is worth $10k. When someone brings a GPU into existence it creates $10k of value. What is needed to bring a GPU into existence?
        twoodfin 4mo ago
        Well, for one thing, billions of dollars of capital!