Message from @ToaWarrior1488

Discord ID: 800103936068550677

2021-01-16 20:36:47 UTC  

Based check

2021-01-16 20:37:24 UTC  


2021-01-16 20:39:28 UTC  

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

2021-01-16 20:40:04 UTC  

Well we have to understand what Marx means by value

2021-01-16 20:40:05 UTC  

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

2021-01-16 20:40:18 UTC  

Value to Marx is basically price

2021-01-16 20:40:45 UTC  

It's exchange value right?

2021-01-16 20:40:49 UTC  


2021-01-16 20:41:12 UTC  

It's neither

2021-01-16 20:41:31 UTC  

It's just firms theory of buying pretty much now

2021-01-16 20:41:42 UTC  

No value judges prices

2021-01-16 20:42:03 UTC  

Subjective and objective

2021-01-16 20:42:10 UTC  

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

2021-01-16 20:45:15 UTC  

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

2021-01-16 20:45:44 UTC  

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

2021-01-16 20:46:13 UTC  

Marx's Theory of Alienation was right on

2021-01-16 20:46:51 UTC  

I could see that being true

2021-01-16 20:47:02 UTC  

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

2021-01-16 20:47:20 UTC  

There was barley any government intervention in COVID

2021-01-16 20:47:23 UTC  


2021-01-16 20:47:26 UTC  

It was private central banker intervention and massive austerity

2021-01-16 20:47:28 UTC  

Keynes was based

2021-01-16 20:47:33 UTC  

Friedman wasn't

2021-01-16 20:47:55 UTC  

most recessions prior to 1945 saw deflation in CPI

2021-01-16 20:48:07 UTC  

Yeah, S&D was very flexible back then

2021-01-16 20:48:11 UTC  

Marginalism was right at one point

2021-01-16 20:48:22 UTC  

open market operations are a form of gov intervention

2021-01-16 20:48:29 UTC  

No they aren't

2021-01-16 20:48:35 UTC  

and are supported by virtually all keynesians

2021-01-16 20:48:36 UTC  

OMO's are just private central bank intervention

2021-01-16 20:48:40 UTC  

Yeah, those are monetarists not Keynesians

2021-01-16 20:48:55 UTC  

they just say they aren't enough

2021-01-16 20:49:02 UTC  

I mean literally that's true though

2021-01-16 20:49:09 UTC  

because Keynes hated central bank action for recessions

2021-01-16 20:49:11 UTC  

Friedman loved it

2021-01-16 20:49:21 UTC  

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

2021-01-16 20:50:02 UTC  

not really friedmanites believe in inflation targeting, not countercyclical monetary policy

2021-01-16 20:50:10 UTC  

Friedman was a retard for rejecting ABCT

2021-01-16 20:50:10 UTC  

Yes they do

2021-01-16 20:50:10 UTC