2 ms·
This is simply incorrect - not only is there still much active debate and work done using the LTV, but Marx's economics is perfectly capable of explaining the d
by zenogais 12y ago
This is simply incorrect - not only is there still much active debate and work done using the LTV, but Marx's economics is perfectly capable of explaining the differing in quantity between price and value (socially necessary labor time). This is not to say that Marx's theory is perfect, far from it, but it is far from the naive theory posited here.
It's amazing how many people who have never read Marx or seriously thought through his economics posit and then proudly refute this sophistic and extremely naive strawman argument. This is a wildly incorrect reading of the LTV that can be eliminated by simply reading Capital: Volume 1, Chapter 1 - Where the LTV is spelled out in detail.