Money is still a proxy for labor hours. A poor one, but it discourages waste and "entrepreneurs" setting up Bitcoin farms and raising emissions.
Mismatching exchanges of labor value causes or exacerbates shortages and inflation. Look at the trouble Venezuela got into by over-subsidizing food when supply could not meet demand.
Or (oversimplified) when Soviet factories overpaid certain workers and allowed them to trade the equivalents of 1 hours work in energy generation for 2 hours work in agriculture, allowing workers to buy more meat and speciality items that distributers could fulfill.
Look at the trouble Venezuela got into by over-subsidizing food when supply could not meet demand.
Could you give me some links to read up more about this from a leftist perspective?
Or (oversimplified) when Soviet factories overpaid certain workers and allowed them to trade the equivalents of 1 hours work in energy generation for 2 hours work in agriculture, allowing workers to buy more meat and speciality items that distributers could fulfill.
Money is still a proxy for labor hours. A poor one, but it discourages waste and "entrepreneurs" setting up Bitcoin farms and raising emissions.
Mismatching exchanges of labor value causes or exacerbates shortages and inflation. Look at the trouble Venezuela got into by over-subsidizing food when supply could not meet demand.
Or (oversimplified) when Soviet factories overpaid certain workers and allowed them to trade the equivalents of 1 hours work in energy generation for 2 hours work in agriculture, allowing workers to buy more meat and speciality items that distributers could fulfill.
Could you give me some links to read up more about this from a leftist perspective?
Damn.
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