I got annoyed when I heard today that some students are learning about Marx's Capital without the criticisms that can reasonably be made of it. And not just for what he overlooks, but in terms of his own explanations. So I just typed this up at the end of class. Took me 5 minutes
He has this paper i cant rember the namesorry. where he for the sake of argument imagines a machine that can produce other machines, and basicly the idea was if a machine does labor that makes more machines does the products the machine makes contain any value? In other words if you make a copy of a mp3 on a computer does the copy contain the same value as the original. Then he goes on to say essentially over time automated good approach near zero cost assuming the machine that produces machines can make more of its self and collect the resources.
Im butching it but yeah marx swear that man had a fuckin orb 🔮 basicly dunking on Twitter loser from 140 years ago. Even if marx is wrong on some parts the falling rate of profit is still a smoking gun, and even of that isn't enough people like Micheal Robert's, and michel hudson have done more then enough to Euclidate how much more useful LTV is in providing accurate Marco scale prediction and understanding then anything you can study at school these days. So yeah friedman losers can mald all day.
He has this paper i cant rember the namesorry. where he for the sake of argument imagines a machine that can produce other machines, and basicly the idea was if a machine does labor that makes more machines does the products the machine makes contain any value? In other words if you make a copy of a mp3 on a computer does the copy contain the same value as the original. Then he goes on to say essentially over time automated good approach near zero cost assuming the machine that produces machines can make more of its self and collect the resources.
Im butching it but yeah marx swear that man had a fuckin orb 🔮 basicly dunking on Twitter loser from 140 years ago. Even if marx is wrong on some parts the falling rate of profit is still a smoking gun, and even of that isn't enough people like Micheal Robert's, and michel hudson have done more then enough to Euclidate how much more useful LTV is in providing accurate Marco scale prediction and understanding then anything you can study at school these days. So yeah friedman losers can mald all day.
relevant: https://cosmonautmag.com/2021/10/why-machines-dont-create-value/