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Alrenous's profile
Alrenous
Alrenous
Alrenous
@Alrenous

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Alrenous

@Alrenous

A gadget has occurred in this error. Fiat vox veritatis ruat caelum.

alrenous.blogspot.com
Joined January 2012

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    1. Outsideness‏ @Outsideness Nov 9

      Some right-wing think tank should actually fund the completion of a critical edition of the Marx corpus. (I'm happy to explain why.)

      8 replies 14 retweets 90 likes
    2. Morlock Publishing‏ @MorlockP Nov 9
      Replying to @Outsideness

      plz explain why

      1 reply 0 retweets 16 likes
    3. Outsideness‏ @Outsideness Nov 9
      Replying to @MorlockP

      Because Marx's great achievement is the rigorous, fully-elaborated reductio ad absurdum of the (classical economic) labor theory of value, and no one is properly incentivized to recognize that.

      4 replies 4 retweets 51 likes
    4. Outsideness‏ @Outsideness Nov 9
      Replying to @Outsideness @MorlockP

      Marx: "Ricardo is a genius, but take his ideas (LTV) to the limit and it results in ruinous contradiction. Jehu: Revolution! Austrians: Or maybe we could try for a realistic theory of prices?

      4 replies 3 retweets 40 likes
    5. wolf‏ @psilops Nov 9
      Replying to @Outsideness @MorlockP

      Interesting take: what is wrong with the labor theory of value? Please explain

      3 replies 0 retweets 1 like
    6. Outsideness‏ @Outsideness Nov 9
      Replying to @psilops @MorlockP

      If the LTV holds, then rates of return in business sectors with comparatively high capital intensity should be consistently lower than those in others.

      1 reply 0 retweets 2 likes
      Alrenous‏ @Alrenous Nov 10
      Replying to @Outsideness @psilops @MorlockP

      Ironically, in a pure market system, prices converge on LTV. The limiting factor on all inputs is labour. Where did the capital come from? Someone had to make it.

      12:10 AM - 10 Nov 2018
      • 1 Like
      • crepuscular dispatch
      3 replies 0 retweets 1 like
        1. New conversation
        2. Outsideness‏ @Outsideness Nov 10
          Replying to @Alrenous @psilops @MorlockP

          Increasingly, capital comes from capital.

          1 reply 0 retweets 5 likes
        3. 1 more reply
        1. Alrenous‏ @Alrenous Nov 10
          Replying to @Alrenous @Outsideness and

          Put another way, the amount of work you can afford to put into something is bounded by its market price.

          0 replies 0 retweets 1 like
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        1. New conversation
        2. crepuscular dispatch‏ @schakalsynthetc Nov 10
          Replying to @Alrenous @Outsideness and

          well, either labor or the raw physics of the materials (e.g. availability and productive capacity of land), whichever is salient in the particular case -- which is *usually* labor, but there are significant exceptions

          1 reply 0 retweets 0 likes
        3. Alrenous‏ @Alrenous Nov 10
          Replying to @schakalsynthetc @Outsideness and

          such as?

          1 reply 0 retweets 0 likes
        4. crepuscular dispatch‏ @schakalsynthetc Nov 10
          Replying to @Alrenous @Outsideness and

          agriculture is the paradigm case. scarcity of productive land is a tighter limit than supply of farmers to work it in lot of regions (varying by geography ofc)

          0 replies 0 retweets 0 likes
        5. End of conversation

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