Jesse what the fuck are you talking about

Made sense to me

Yeah it still sounds gay

Based check

Hi

https://tenor.com/view/baby-yoda-baby-yoda-wave-baby-yoda-waving-hi-hello-gif-15975082

I don't think the value of a good is dependent on the labor necessary to produce the good

Well we have to understand what Marx means by value

Obviously when we make mathematical models it's there's a big correlation but I don't think that means that they're actually is some sort of objective factor that is actually predicting what the price is going to be it seems like it's based on subjective preferences

Value to Marx is basically price

It's exchange value right?

Yea

It's neither

It's just firms theory of buying pretty much now

No value judges prices

Subjective and objective

Neither really change prices nor set prices in the 1st place

So I can't pretend to know exactly what modern Marxist argue for like maybe certain of his theories were vindicated by neoclassical economics or something but when I generally conceptualize the labor theory of it seems that marx was developing a system of economic prediction based off of these other thinkers of his time and they held the opinion the price of a commodity is the same as the labor that is expended to create it and that's how we came up with this theory of exploitation now if you're arguing for something different I don't totally know because Im basically rejecting his theory of exploitation because he's starting from false premises

Yeah, they can be exploited but they aren't exploited in the way Marx says they are

Marx's Theory of Alienation was right on

I could see that being true

@slavecaste prices remained rigid in the face of a huge collapse in aggregate demand due to government intervention lol

There was barley any government intervention in COVID

(((Keynes)))

It was private central banker intervention and massive austerity

Keynes was based

Friedman wasn't

most recessions prior to 1945 saw deflation in CPI

Yeah, S&D was very flexible back then

Marginalism was right at one point

open market operations are a form of gov intervention

No they aren't

and are supported by virtually all keynesians

OMO's are just private central bank intervention

Yeah, those are monetarists not Keynesians

they just say they aren't enough

I mean literally that's true though

because Keynes hated central bank action for recessions

Friedman loved it

I still laugh at lolberts who blame Keynes for the mess we have now