Some right-wing think tank should actually fund the completion of a critical edition of the Marx corpus. (I'm happy to explain why.)
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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.
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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?
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Replying to @Outsideness @MorlockP
Interesting take: what is wrong with the labor theory of value? Please explain
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If the LTV holds, then rates of return in business sectors with comparatively high capital intensity should be consistently lower than those in others.
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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.
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Put another way, the amount of work you can afford to put into something is bounded by its market price.
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