That… that’s not what LTV is. Please tell me you know that’s not what LTV is? Because that’s nearly the exact opposite of Marx’s theory of the value of labor.
:smarmy:
No one takes labor theories of value seriously. It’s hammering a square peg into a round hole to try and support the proposition that the person who does the most valuable work is responsible for the value of the outputs, but you don’t need to fudge the economics to come to that conclusion…
it’s not the labor that determines the value of the outputs, it’s the value of the outputs that determine the value of the labor. Which is the subjective or marginal theory of value, a clear and straightforward rejection of the labor theory of value.
About a million Leftist theorists and economists have improved on Marx’s very limited understanding of microeconomics, and anyone who subscribes to Marx’s theories in toto is a dunce.
:deng-smile:
if you truly believe exchange value is not subjective and marginal on a microeconomic level…. well… I’m not sure I can help you on that one, but I would happily sell you two right shoes and one left.
:wojak-nooo: :stalin-gun-1: :stalin-gun-2:
https://www.reddit.com/r/ShitLiberalsSay/comments/p3i8bq/comment/h8rciby/
marx failed to consider supply and demand, what a fucking imbecile
definitely didnt use a commonly-understood-at-the-time definition of value that is explicitly not the fucking same as price
i think the recent example of video cards has been quite interesting to see how much people actually believe in marginalism when it directly and obviously affects them (especially on g*mer infested shitholes like reddit) - nobody except a few of the smarmiest libertarian losers has been saying "oh well this is just what theyre worth now, marginal utility has decided", everyone intrinsically realises that theres a less volatile value underneath that is not adequately represented by the price, and if you ask most people about a "fair" price youll get an answer that mostly talks about the cost of labour (and materials - advanced ones might also meditate on why those materials have that particular value) in the supply chain to create them