I'm out lads

Resorts to ad hominem attacks when you lose a debate

Market economies do not allocate values to goods better than labor value does

Free market capitalism is not the only form of capitalism. One can have government intervention and it still be called capitalism, just not free market

So no it's not more efficient

Yes they do

"labour theory of value"

what a joke

@Shalopy No, theres only one form of capitalism, the free market is the definition

Tell me why it is a joke

Labour theory of value, value isn't determined on labour

it's determined on the value the consumer places on it

you can spend a day digging a hole and filling it up

doesn't mean it'll be worth more

it's an illiterate idea

Socialist economies are extremely inefficient, so are socialist policies

Capitalist economies are miles ahead

All empirical studies by Zechariah, Sraffa, Farjoun and Machover, Cockshott and Cotrell show that labor value clusters around market prices more accurately than production price theory

As shown by today and the past

Of course you wouldn't understand what the LTV is

Not atall

I do

it's just dumb

lol

Because it's completely illogical

Then you could understand the quantum math behind it and the difference in productive and unproductive sectors

I remember an explanation going around about profit, i cant remember what it was about but it did go in the face of libertarian economics to some degree

And explain it to me

It's more of the fact that it doesn't allocate resources properly

Making profit =/= capitalist \

Project Cybersyn allocated resources perfectly

Capitalism's primary existence is on profit

In Chile?

you do realise the socialist period of Chile fucked the economy

<:facepalm:487682504153628701>

On the contrary capitalist and CIA sabotage of markets destroyed the ability to distribute consumer goods through them and the national distribution project Cybersyn was organized for had to be used

Ah theres always an excuse isn't there

(ignores how the system is completely inefficent)

Repeating yourself is not very economically literate for you

LTV views value as something as objective instead of subjective

Completely a childs view of economics