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/leftypol/ - Leftist Politically Incorrect

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Previous thread: >>2507158

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Youtube Playlists
Anwar Shaikh - Historical Foundations of Political Economy
https://www.youtube.com/playlist?list=PLTMFx0t8kDzc72vtNWeTP05x6WYiDgEx7
Anwar Shaikh - Capitalism: Competition, Conflict and Crises
https://www.youtube.com/playlist?list=PLB1uqxcCESK6B1juh_wnKoxftZCcqA1go
Anwar Shaikh - Capitalism
https://www.youtube.com/playlist?list=PLz4k72ocf2TZMxrEVCgpp1b5K3hzFWuZh
Capital Volume 1 high quality audiobook from Andrew S. Rightenburg (Human-Read, not AI voice or TTS voice)
https://www.youtube.com/playlist?list=PLUjbFtkcDBlSHVigHHx_wjaeWmDN2W-h8
Capital Volume 2 high quality audiobook from Andrew S. Rightenburg (Human-Read, not AI voice or TTS voice)
https://www.youtube.com/playlist?list=PLUjbFtkcDBlSxnp8uR2kshvhG-5kzrjdQ
Capital Volume 3 high quality audiobook from Andrew S. Rightenburg (Human-Read, not AI voice or TTS voice)
https://www.youtube.com/playlist?list=PLUjbFtkcDBlRoV5CVoc5yyYL4nMO9ZJzO
Theories of Surplus Value high quality audiobook from Andrew S. Rightenburg (Human-Read, not AI voice or TTS voice)
https://www.youtube.com/playlist?list=PLUjbFtkcDBlQa-dFgNFtQvvMOgNtV7nXp
Paul Cockshott - Labor Theory of Value Playlist
https://www.youtube.com/playlist?list=PLKVcO3co5aCBnDt7k5eU8msX4DhTNUila
Paul Cockshott - Economic Planning Playlist
https://www.youtube.com/playlist?list=PLKVcO3co5aCDnkyY9YkQxpx6FxPJ23joH
Paul Cockshott - Materialism, Marxism, and Thermodynamics Playlist
https://www.youtube.com/playlist?list=PLKVcO3co5aCBv0m0fAjoOy1U4mOs_Y8QM
Victor Magariño - Austrian Economics: A Critical Analysis
https://www.youtube.com/playlist?list=PLpHi51IjLqerA1aKeGe3DcRc7zCCFkAoq
Victor Magariño - Rethinking Classical Economics
https://www.youtube.com/playlist?list=PLpHi51IjLqepj9uE1hhCrA66tMvNlnItt
Victor Magariño - Mathematics for Classical Political Economy
https://www.youtube.com/playlist?list=PLpHi51IjLqepWUHXIgVhC_Txk2WJgaSst
Geopolitical Economy Hour with Radhika Desai and Michael Hudson (someone says "he's CIA doing reheated Proudhonism" lol)
https://www.youtube.com/watch?v=X7ejfZdPboo&list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP

Potential Sources of Information
Leftypol Wiki Political Economy Category (needs expanding)
https://leftypedia.miraheze.org/wiki/Category:Political_economy
Sci-Hub
https://sci-hub.se/about
Marxists Internet Archive
https://www.marxists.org/
Library Genesis
https://libgen.is/
University of the Left
http://ouleft.sp-mesolite.tilted.net/Online
bannedthought.net
https://bannedthought.net/
Books scanned by Ismail from eregime.org that were uploaded to archive.org
https://archive.org/details/@ismail_badiou
The Great Soviet Encyclopedia: Articles from the GSE tend to be towards the bottom.
https://encyclopedia2.thefreedictionary.com/
EcuRed: Cuba's online encyclopedia
https://www.ecured.cu/
Books on libcom.org
https://libcom.org/book
Dictionary of Revolutionary Marxism
https://massline.org/Dictionary/index.htm
/EDU/ ebook share thread
https://leftypol.org/edu/res/22659.html
Pre-Marxist Economics (Marx studied these thinkers before writing Capital and Theories of Surplus Value)
https://www.marxists.org/reference/subject/economics/index.htm
Principle writings of Karl Marx on political economy, 1844-1883
https://www.marxists.org/archive/marx/works/subject/economy/index.htm
Speeches and Articles of Marx and Engels on Free Trade and Protectionism, 1847-1888
https://www.marxists.org/archive/marx/works/subject/free-trade/index.htm
(The Critique Of) Political Economy After Marx's Death
https://www.marxists.org/subject/economy/postmarx.htm

Robot slavery is fine. But what to do with 8 billion unemployed people is unclear

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>>2547898
>what to do with 8 billion unemployed people is unclear
Ask the robots to take on some risk and be job creators for them

>>2547898
the robot owners can pay them in company scrip with all the value robots create


>>2547823
<The proletariat, or the class of proletarians, is, in a word, the working class of the 19th century.
https://www.marxists.org/archive/marx/works/1847/11/prin-com.htm
>>2547606
anti-communist warrior 💪
>>2547885
yes, ive read it before. chapter 4 is also worth reading.
>>2547883
>markets produce capitalist relations
capitalist relations (private monopoly over the means of production) historically occurs through state intervention via bourgeois dictatorship (i.e. primitive accumulation).
>>2548105
>>2547837
>receiving education is a lot of work that you're expected to pay for up front. Really higher wages are just paying you back for they ears of tuition and unpaid labor.
why are state officials receiving a separate, elite education in a communist society? why are people even paying for university in a communist society?

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>>2547842
>ok, but why insist on putting all this in bourgeois economic terms that focus on "supply and demand" and "marginal utility" if Marx says the same thing?
the evidence for geocentrism and heliocentrism comes from the same phenomena, just interpreted differently. to me, marxism is geocentric.
>his standpoint is to educate the worker about their own exploitation
the early socialists in britain (1816-32) where followers of adam smith; the so-called "ricardian socialists" were smithian, as noel thompson shows: >>2547416
marxism is a perversion of socialism, which replaces british common sense with german mysticism. the first utopian socialist was british; robert owen (1813). the first proto-socialist movement was british, the "diggers", or the "true levellers" of the english civil war (1649). the labour theory of value came from british political economy (1662-), etc. what exactly are we missing?
>Your goal is to simply describe economics as scholastically as possible
you mean that i value objectivity? correct.
>>2548108
>its a political choice
politics and economics are not the same thing. ive discussed my politics plenty, so read what you want.

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>>2547606
didn't keynes suggest that aggregate demand is so much more important than anything, including useful labor, that he suggested making people dig holes and fill them up again to boost employment during a recession? And this is the guy who said he could solve capitalism's crises better than the Marxist's "misunderstanidng of Ricardo?"

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>>2548414
>the evidence for geocentrism and heliocentrism comes from the same phenomena, just interpreted differently. to me, marxism is geocentric.
What makes Marxism "geocentric?"

>>2548414
>marxism is a perversion of socialism, which replaces british common sense with german mysticism
explain for us the difference between british common sense and german mysticism, from your perspective.

>>2548414
>politics and economics are not the same thing.
Class society arises from economic relations, and this has political consequences. Artificially segregating the two might seem like "British common sense" to you but to anyone else its seems like obfuscation of class society which benefits the ruling class politically.

>>2548414
>marxism is a perversion of socialism, which replaces british common sense with german mysticism.
jesse….

>>2548726
It's especially weird that he says this since Marx spent literally over half his life in England, researching in the British museum, reading British political economy, and deriving his own ideas from that. Oh no this dirty stinky German showed up and ruined our perfect British common sense with his weird Hegelian mysticism is such a weird cope. As is the blatant attempt to segregate politics from economics in a thread called political economy.

>>2548731
at this point I just view him as a lol cow. I dont like being rude but he kinda is one

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>>2548414
>marxism is a perversion of socialism, which replaces british common sense with german mysticism

The British Empire, a glorious exercise in "let's see how much of the world we can own before lunch," began with the subtle elegance of piracy and trade. At first, it was all about "spices" and "spices" were, naturally, worth turning a blind eye to any minor ethical dilemmas like, oh, kidnapping, slavery, and the occasional genocide. But that was just the appetizer. Then, like a drunk person stumbling into a buffet, Britain started scooping up territories with the same finesse as a toddler in a toy store. India? "Sure, why not!" The Caribbean? "It's like a tropical vacation… with gold!" Africa? "Let's just call it all of it." The Empire reached its zenith by collecting more territories than a Monopoly player who hasn't read the rules and is too busy yelling "MINE!" to notice they've declared bankruptcy. But, as with all good things that are based on unreasonable greed and excessive pride, cracks began to show. First, there were those pesky colonies with their rebellious ideas like "freedom" and "rights" (what a buzzkill). Then there were the mounting costs of controlling everything, because apparently, sending gunboats to every little skirmish isn't "cost-effective." Oops. Eventually, Britain started shedding colonies the way a person loses keys after a night of drinking: disoriented, confused, and somewhat surprised. The Empire shriveled under the weight of its own absurdity, like a giant inflatable globe with too many holes in it. In the end, what remained was less a global empire and more a series of bitter ex-colonies with grievances, a few tea bags, and a somewhat confusing sense of national identity. Britain now spends its time playing trivia about how it used to run half the world, while everyone else collectively wonders, "What on Earth were they thinking?"
And that, folks, is the rise and fall of the British Empire, a glorious mess of hubris, misplaced nationalism, and the inexplicable need to claim everything within a 100-mile radius.

>>2548307
…. if the dumbass asking had just rephrased his question as "what are various reasons for inflation?" he wouldn't have looked so stupid in this clip ….

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>>2548706
he's making a satirical point by giving an analogy of the wastefulness of gold-digging and how digging up money serves the same end. he qualifies all this by saying that he would much prefer to build houses;
>It is curious how common sense, wriggling for an escape from absurd conclusions, has been apt to reach a preference for wholly “wasteful” forms of loan expenditure rather than for partly wasteful forms, which, because they are not wholly wasteful, tend to be judged on strict “business” principles. For example, unemployment relief financed by loans is more readily accepted than the financing of improvements at a charge below the current rate of interest; whilst the form of digging holes in the ground known as gold-mining, which not only adds nothing whatever to the real wealth of the world but involves the disutility of labour, is the most acceptable of all solutions. If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again (the right to do so being obtained, of course, by tendering for leases of the note-bearing territory), there need be no more unemployment and, with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is. It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.
https://www.marxists.org/reference/subject/economics/keynes/general-theory/ch10.htm
>>2548719
lets take engels' praise of adam smith for example:
>Thus even Adam Smith knew “the source of the surplus-value of the capitalist,” and furthermore also of that of the landlord. Marx acknowledged this as early as 1861, while Rodbertus and the swarming mass of his admirers, who grew like mushrooms under the warm summer showers of state socialism, seem to have forgotten all about that.
https://www.marxists.org/archive/marx/works/1885-c2/ch00.htm
he does this providing various quotations from smith and marx. lets look at the citations:
<The value which the workmen add to the materials, therefore, resolves itself in this case into two parts, of which the one pays their wages, the other the profits of their employer upon the whole stock of materials and wages which he advanced.” […] rent makes the first deduction from the produce of the labour which is employed upon land. It seldom happens that the person who tills the ground has the wherewithal to maintain himself till he reaps the harvest […] profit makes a second deduction from the produce of the labour which is employed upon land…
https://www.marxists.org/archive/marx/works/1885-c2/ch00.htm
and with this, marx summarises smith's view:
>Here therefore Adam Smith in plain terms describes rent and profit on capital as mere deductions from the workman’s product or the value of his product, which is equal to the quantity of labour added by him to the material.
https://www.marxists.org/archive/marx/works/1885-c2/ch00.htm
so then, smith creates the most basic sum in the world. we have the total value of a productive process (e.g. £100). this total value must then be shared between persons as separate revenues corresponding to class positions; "rent" for the landlord, "profit" for the capitalist and "wages" for the worker. thus, the return of total value has its share between these parties (i.e. £20 in rents, £30 in profit and £50 in wages). the total value thus corresponds to total revenue (or costs). we may then formulate the sum of total value: (rent + profit + wages) = total value (what smith terms the "component" prices of commodities). this of course is identical to marx's formula for the value of commodities in vol. 3:
<The value of every commodity produced in the capitalist way is represented in the formula: C = c + v + s.
https://www.marxists.org/archive/marx/works/1894-c3/ch01.htm
so then, it takes smith a few chapters to say what it takes marx 2 books to conclude, by common sense. marx's "dialectical" method is so unclear and convoluted that its still argued over today. as people say, "If you can't explain it simply, you don't understand it well enough." yet in all religious systems, oversimplification causes error, as it does with marx, but not with smith. proof of this is in the lack of baggage; you can accept economic reality without singing the l'internationale.

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>>2548731
marx was pro-capitalist and anti-socialist: >>2510749
>>2548736
if i was wrong about anything, it would have been said.
>>2548751
>he writes in english…
>>2548723
>Class society arises from economic relations
its backwards. power in the state often impresses itself as power in the economy. aristotle understood this. class relations are relations of power in the state. you wouldnt deny this, yet you speak contrarily to it.
>>2548716
it presupposes a substance called "value" which exists codependently of price, rather than simply itself being a price, as it is in smith's system (i.e. "natural price"). now, marx's theory of value certainly has sociological intrigue and marx in himself is a world-historical genius, but on the style of his communication, he can be utterly lacking. an issue in his theory of value begins by his misinterpretation of aristotle, where he claims that aristotle saw the form of value, but not value as such; this is false, as we read (ethics, 5.5), where aristotle directly determines money as "measure of value", with value being quantity of "demand" in relation to supply. here, aristotle sees the trade relation underpinned by marginal utility, as we also read in "rhetoric" (1.7) where he introduces the "paradox of value" between water and gold. he resolves it by saying that what is better in gold is its scarcity, despite its (total) useless by comparison. so then, aristotle had a theory of value (of the good), yet it is a value measured in money (price), and by these means do we estimate the relative worth of something. xenophon makes comments on gold and silver here:
<I may note this fact about gold, that, with a sudden influx of this metal, it is the gold itself which is depreciated whilst causing at the same time a rise in the value of silver.
https://topostext.org/work/95
so then, the greater supply of gold, the less its value in relation to silver, despite the greatness of gold. thus as aristotle says, it is its scarcity which grants its value, or relative price, in relation to all other commodities. so then, to me, value is a function of price, or so to say, money is the "measure of value" (i.e. aristotle, smith). marx agrees, but reverses things, claiming that money itself must have value to measure value. this of course is false, since money is not a commodity. marx and engels speak on the retroactivity of this theoretical derivation here (of deriving value from price): >>2547392
yet its gratuitous, for the forms of which we speak of are still and always prices of one sort or another.

>>2549046
>marx was pro-capitalist and anti-socialist
sad

>>2548413
>why are state officials receiving a separate, elite education in a communist society? why are people even paying for university in a communist society?
why is the education elite now? what makes you think people are paying? there is a social cost to having people study instead of work even if that same individual doesnt pay

>>2548414
>politics and economics are not the same thing.

</Political Economy/ General #5


>>2549176
money printer go brrr

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>>2549044
>so then, it takes smith a few chapters to say what it takes marx 2 books to conclude, by common sense.
Marx doesn't introduce this formula for the first time in volume 3 as you are suggesting here, it is present in Chapter 9 of volume 1, possibly earlier.

>>2549046
>where aristotle directly determines money as "measure of value", with value being quantity of "demand" in relation to supply. here, aristotle sees the trade relation underpinned by marginal utility
You keep implying demand is fundamental and supply is secondary, while I keep saying they are both disequilibrium phenomena that can only predict by how much a commodity's natural price (or value, or equilbrium price) differs from its market price. When the two codependent phenomena are in equilibrium, the price is simply the labor inputs, some of which are direct labor inputs (variable capital) and some of which are indirect labor inputs (constant capital). Surplus value, or profit, is just expropriation of wages by the capitalist which they are able to carry out because they own the constant capital, the i.e. the means of production. It is essentially a rent they charge the worker out of their wages for the privilege of using their private property (the means of production). Some of this they reinvest in expanding production, and some of it they keep for their own secure, lavish, and wealthy lifestyles.

Why I don't think demand is fundamental and is in fact codependent with supply, is because demand can be induced through various means (in fact, in traffic engineering we often talk of induced demand that comes as a result of road widening, but this can also apply to economics, and protection rackets for example thrive on induced demand created by the threat of violence) and rates of supply are simply a reflection of the socially necessary labor time needed to produce a commodity or, in the most simple of circumstances, find, extract, and refine some raw material from the Earth.

>>2549046
>marx was pro-capitalist and anti-socialist:
this seems like a non sequitur since this was intended to be a reply to someone replying to your previous remark about german mysticism vs. british common sense. it was stated that marx had a lot of influence from the so called british common sense, since he spent over half his life there researching and writing capital while studying the actually existing british economy and the canon of british political economists like Smith, Ricardo, etc.

>>2549046
>its backwards. power in the state often impresses itself as power in the economy. aristotle understood this. class relations are relations of power in the state.
Class society exists in both the private sector (economy) and in the public sector (state) but bourgeois class power rules over both those sectors, both in and outside of the state. So class society encompasses both the government and non-government sectors.

>>2549046
>it presupposes a substance called "value" which exists codependently of price, rather than simply itself being a price
before a value becomes a price tag it accumulates in the production process. If iron ore were laying around everywhere you wouldn't pay someone to fetch iron ore. You pay someone to go into the mines and bring the iron back out. The value is in that action, before a price tag is even hung on it. Value is socially necessary labor time. Price is the expression of that socially necessary labor time in measurable quantities of money. But if this is too abstract for you, suffice it to say that value is just the natural price.

>>2547894
>>2545190
>>2547194
I will leave this answer for anyone who has doubts and is falling for the austerity propaganda of neoliberals wanting to blame the unemployed for the decline in productivity in the United Kingdom.

The UK’s long-term productivity crisis is a direct product of capitalist decay such as falling profitability, financialisation, and rent-seeking, not state spending or welfare. Michael Roberts and other Marxist economists have been writing about this for over a decade.

<In the case of the UK, there is another particular problem: the UK is increasingly a rentier economy, relying on finance, business services and real estate. These are unproductive activities that do not boost the productivity of labour, but do reduce available profits for productive investment. Indeed, the relative fall-back in UK productivity compared to Germany and France etc can be particularly discerned from the early 2000s, when the oil revenues dissipated and investment increasingly went into a credit fuelled real estate boom.


<A detailed sectoral analysis by the Economic Statistics Centre of Excellence has shown that three-fifths of the drop in productivity growth stems from sectors representing only a fifth of output, including finance, utilities, pharmaceuticals, computing and professional services. The Bank of England did a similar analysis found that it is the top ones that have become the slackers. The most productive groups are “failing to improve on each other at the same rate as their predecessors did”, according to its research. The best companies still improved their productivity faster than the rest, but productivity growth among the best has sharply fallen and this has hurt the UK’s growth rate.


<Investment in a capitalist economy depends on its profitability as I have argued ad nauseam in this blog. And there is still relatively low profitability and a continued overhang of debt, particularly corporate debt, in the major economies. In the case of the UK, the profitability of the non-financial sector is still some 12% below its level in 1997. And in the oil sector, it has fallen 50%.


<Michael Roberts, 2018, The productivity puzzle again


https://thenextrecession.wordpress.com/2018/06/29/the-productivity-puzzle-again

The socialist solution is to de-financialize the economy by bringing banks under democratic control to channel credit into production, nationalize key sectors (energy, transport, housing, infrastructure), plan investment instead of leaving it to the financial capital short-term unproductive logic, raise workers' wages encouraging consumption and productivity together, not by discipline but by rational coordination of production, this means public investment with state-owned companies to encourage productivity.

>>2549570
> the UK is increasingly a rentier economy, relying on finance, business services and real estate.
there's a certain anon who calls Michael Hudson antisemitic for noticing these consequences of deindustrialization in the imperial core

hey guys do you think AI will reset the falling rate of profit? also why do we need robots for ubi why cant we just do ubi with computers we already have. like think about it wages decoupled from productivity right when computers happened we could all have ubi right now and then when the ai comes we can have universal maximum income.

>>2549733
i think adam smith and karl would have agreed on this and even graeber and haz. everyone wins

>>2549733
>hey guys do you think AI will reset the falling rate of profit?
no. because AI = constant capital and a higher ratio of constant capital to variable capital results in lower rates of profit, not higher. Listen to cockshott talk about this.

>>2549736
>anything that's not productive labor will get eliminated by AI at a rapid pace.

WHAT ABOUT CEO POSITIONS, MUSKRAT?!

>>2549743
the how did a burger survive the 73 oil crash and computers at the same time? didnt think of that huh smarty pants

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>>2549172
>patricians are paid more than the plebs because of their education
<why are patricians getting a separate education from the plebs?
this still hasnt been answered. just seems like youre classcucked into supporting bureaucracy. as plato says, state officials should receive minimum wage. thats it.
>>2549260
the reply was meant for: >>2548726
and who cares if marx studied in britain? if, as engels says, adam smith already figured things out almost a century earlier than marx, then why do we need marx? thats my point. the british invented liberalism, socialism, the labour theory of value, etc. what does marx offer in particular?
>>2549285
>before a value becomes a price tag it accumulates in the production process
so value is a physical substance, not a mode of social recognition? as marx says, value is not physical;
>So far no chemist has ever discovered exchange value either in a pearl or a diamond.
https://www.marxists.org/archive/marx/works/1867-c1/ch01.htm
and "production" only has meaning in consumption:
<Lastly nothing can have value, without being an object of utility. If the thing is useless, so is the labour contained in it; the labour does not count as labour, and therefore creates no value.
https://www.marxists.org/archive/marx/works/1867-c1/ch01.htm

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>>2549570
>unemployment doesnt reduce productivity
<says nothing about re-industrialisation
worthless commentary.
>>2549736
>with technology anything is possible, except employee ownership over the means of production…
>>2549733
>>2550054
rate of profit ≠ absolute profit
as smith and marx explain, the rate of profit declines in proportion to capital stock employed and competition. if i invest £100 and get £110 back, my rate of profit is 10%, while if i invest £1,000 and get £1,010 back, my rate of profit is 1%, but absolute profit is the same: £10. so then, as long as there is absolute profit, its stable.
>>2549255
>You keep implying demand is fundamental and supply is secondary
as j.b. say understands, production is limited by the utility of objects, since whatever is sought to be produced must be useful so as to be purchased. similarly, aristotle places the marginal utility of gold as its imperative to be produced, and marx also understands production to be a condition of consumption, with labour only attaining its value by the act of exchange, and without this, there is no labour.
>they are both disequilibrium phenomena
so when supply and demand are in equilibrium, there is no supply and there is no demand? think.
>Why I don't think demand is fundamental and is in fact codependent with supply, is because demand can be induced through various means
the issue here is misunderstanding terms; when smith speaks of demand, he calls it "effectual demand", or the active ability to purchase a commodity, as opposed to what is ineffective, which is desire without purhase. you can desire anything, but demand only represents money. if you make mudpies, can you call them valuable?

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>>2549175
you dont know what "political economy" means.
>>2549276
capitalists only have economic supremacy becauce of the state. without the state, they would lose it.
>>2548716
>>2549046
to continue, the presupposition of value causes immanent contradictions. for example, the form of appearance of value (exchange-value) takes on the form of price in a monetary system. thus, appearance gives epistemology to what is essential between things; we come to "know" value by price. this is perfectly consistent until capital vol 1, chapter 3, where marx says that the price-form both reveals and conceals value, since in gaining a price, a product attains the form of value as a commodity, yet this relation may not be one of "real" value, but rather, of "imaginary" value. thus, if commodity (X) has a price the same as (Y), one has a "true" appearance and the other, a "false" appearance. so then, epistemology breaks down and we no longer recognise value by its necessary form of appearance.

the assertion of a "false" appearance appears superstitious and thus an irrational means of explaining how some commodities have "value" while others dont. further, how are we to "know" what has value or not, if the means by which we come to know is the same? this "geocentrism" fails because it abides by sola fide.
http://socialdemocracy21stcentury.blogspot.com/2015/12/imaginary-prices-and-marxs-labour.html?m=1

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truke or puke?

>neema parvini on embracing paul cockshott's view on productive versus unproductive labour
im surprised that parvini, with his austrian background, doesnt explain the difference between primary and secondary goods, and how the price of the goods also corresponds to the time-frame of consumption. as i have shown before, the chain of supply has its cause in the breadth of the economic order, from the merchant to the manufacturer, and so what is secondary implies the primary as a lesser marginal value (i.e. retail versus wholesale). 1 can of coke sold individually costs more than 1 can proportionate to its 24-can bundle, for example, and so the retail sale of the single can of coke influences the wholesale purchase of the 24 cans, and so on. the question of productive and unproductive labour thus has its answer by these means, which is that productivity is not a substance (i.e. "labour"), but is a context, harmonised on an economic scale. and as a basic example, every seller needs a buyer. "productivity" is not determined by a physical act, but by meeting a need in this activity, otherwise your product serves no value and is thus a waste. productivity is only determined in sale (i.e. ricardo, marx), and so if someone is deemed "unproductive" it appears to be as jevons describes smith's paradox of value, that though water has a greater total utility, its marginal utility is less than the diamond. so then, manufacturing has a lower marginal product by having a greater total product, while its opposite for services. this is why manufacturing goods cost more in total, while services cost more in particular (i.e. a single can of coke, or a single cup coffee). less is more, yet the most is not the least.

>>2550289
hoppe already says that profit is the interest rewarded to the capitalist for his investment: >>2460758
yet he justifies it by saying that the capitalist gets a positive reward for time-preference. i reverse this by showing that its actually the worker who takes on "risk" with their investment.

>>2550260
>so when supply and demand are in equilibrium, there is no supply and there is no demand? think.
not what's being said at all. To say something is a disequilibrium phenomenon is not to say that the phenomenon doesn't exist at all. Just saying that when it comes to the price standpoint, supply/demand can only adequately explain the deviation from the natural price, but not the natural price itself. It is an important question to ask why different commodities have different natural prices even though supply and demand are in equilibrium for each of them. One might say rate of supply explains natural price as if to make supply fundamental, but rate of supply depends on the production process, specifically the socially necessary labor time. If we're talking about a nonrenewable natural resource, yes scarcity is a permanent feature, but scarcity merely regulates the socially necessary labor time it takes to find, extract, and refine that natural resource. This is why Marx makes socially necessary labor time the locus of his theory of value, because from a perspective of class struggle, which for him is a driving force in human society, the context of all economic activity, scarcity, or rate of supply, is going to regulate the exploitation of labor, and profit is subtracted from what would otherwise be wages. Writing economic theory from the standpoint of exploitation and class struggle doesn't make this perspective less clear or less scientific unless you don't care about how these things relate to economics, or worse, you think these things shouldn't be acknowledged at all in economics. But we already went over ITT how the arbitrary segregation of politics from economics is indeed a deliberate contrivance of the ruling class to reinforce capitalist individualism, where the suffering of the poor is not a result of social murder and exploitation, but merely a failure of individuals to survive in a social darwinist struggle.
>the issue here is misunderstanding terms; when smith speaks of demand, he calls it "effectual demand", or the active ability to purchase a commodity, as opposed to what is ineffective, which is desire without purhase. you can desire anything, but demand only represents money. if you make mudpies, can you call them valuable?
Smith Anon, we've been over the mudpies thing countless time. Marx has built into his theory the idea that a commodity must be satisfy a human desire (at a social scale) for it to be a commodity in the first place. Obviously neither Marx nor I put forward the idea that labor which does not produce something demanded in the economy produces commodities. All of this is assumed in the context of commodity production which are assumed to have use value (or, if you like, demand) baked into their definition. But this doesn't make demand more fundamental. You can look at any circuitous activity in the economy and say "this is the starting point and therefore the most fundamental element" but for Marx, it is important to see that it's a circuit, and what is fundamental to people depends on their standpoint, and therefore upon the material interests, and therefore upon their class, and the class struggle.

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>>2550297
>i reverse this by showing that its actually the worker who takes on "risk" with their investment.

>>2550303
>not what's being said at all
these are your words:
<they are both disequilibrium phenomena
supply and demand are phenomena in equilibrium as well, since there is no concept of "equilibrium" outside of supply and demand… what exactly is equilibrating?
>supply/demand can only adequately explain the deviation from the natural price, but not the natural price itself
what is supply measuring, in your opinion?
>the arbitrary segregation of politics from economics
are they different things? yes or no? can you be a communist who rejects the LTV, for example? can you be a communist and not care about economics?
>capitalist individualism
capitalism is not individualistic.
>a commodity must be satisfy a human desire
okay, so supply depends upon demand, to marx. they are co-constituted, as he writes in the grundrisse.

>>2550309
>supply and demand are phenomena in equilibrium as well, since there is no concept of "equilibrium" outside of supply and demand… what exactly is equilibrating?
From the market standpoint what’s equilibrating is price and quantity. The market price adjusts so that quantity demanded equals quantity supplied, and the market price is the same as the natural price. At that point, no buyer or seller has an incentive to change behavior. That’s the equilibrium. From the standpoint of price it is the point at which the production process, rather than the supply and demand, can explain the cause of the price being specifically what it is for that commodity, since different commodities will have different natural prices, despite supply and demand being in equilibrium for each of them.
>are they different things? yes or no?
False binary. Ever seen a venn diagram? Things can "overlap." We put forward static notions like "politics" and "economics" and segregate them from the standpoint of categorizing things, but then we overcome our own static notions when we see clear overlaps or ambiguities between our statically conceived categories.
>what is supply measuring, in your opinion?
From an economy wide standpoint, how much of a finished commodity is already in circulation in the economy.
>can you be a communist who rejects the LTV, for example? can you be a communist and not care about economics?
I suppose an individual could choose to call themselves one thing while at the same time rejecting all the typical characteristics of that thing. Not sure why they would do that, but it happens. This in turn would slightly influence how language is used, and over time could cause semantic drift, which we often see, since not even definitions are static, but contested and contextual.
>capitalism is not individualistic.
It very much is. It actively discourages class struggle on the basis that an individual can make it through their own wit in the social darwinist struggle. From the bourgeois perspective, Thatcher remarked that there is no society, only individuals. From the proletarian perspective, Steinbeck remarked that socialism never took off in America because everyone sees themselves as temporarily embarrassed millionaires. Marx criticizes the bourgeois apologia that profit is merely the individual capitalist's superior discipline, or his abstinence from using money, or the wages for his managerial acumen.
>okay, so supply depends upon demand, to marx. they are co-constituted, as he writes in the grundrisse.
before a human can desire it, they must know that it exists, and for it to exist, it must be produced. The production process is circuitous. You can pick any point in the circuit as the arbitrary and therefore most "fundamental" starting point. Once you get out of the thinking that the production process is merely a linear series of events, and you get into the thinking that it's a circuit with different start/endpoints depending on your subjective standpoint, you can analyze the production process from different standpoints, and see the class struggle in human society as more fundamental than supply or demand.

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>>2550317
>The market price adjusts so that quantity demanded equals quantity supplied, and the market price is the same as the natural price
yes, precisely. the natural price being the costs of production, which you call "labour inputs".
>False binary
>Things can "overlap."
okay, so they are different things and so can be spoken of separately.
>I suppose an individual could choose to call themselves one thing while at the same time rejecting all the typical characteristics of that thing. Not sure why they would do that, but it happens.
how many self-proclaimed marxists would you estimate have actually read marx? how many anti-marxists do you think have actually read marx? see?
>Thatcher remarked that there is no society, only individuals
her policies were a one-sided class war against the workers, including social conservatism, which limits individual freedom. you see the same contradiction in thatcher's mentor, friedman, who is a voluntarist until it comes to labour unions. the capitalist cant believe in the political power of the individual even if they ontologise them as slaves. the claim that society is only a series of individuals is also rhetorically used in rothbard's "for a new liberty" (1973) to prove that blaming "society" simply means blaming everybody else except yourself, which is true. as smith also says, the self-interest of the citizen is substituted with the class interest of capitalists, as "wealth" is falsely identified with profit. wealth means higher wages, not profits. engels also says that "national wealth" (e.g. GDP) is a contradictory metric for the same reason.
>before a human can desire it, they must know that it exists, and for it to exist, it must be produced.
we desire things that dont exist all the time. you are again confusing desire for demand. if you dont think that demand constitutes supply, take it up with marx.

>>2550330
>yes, precisely. the natural price being the costs of production, which you call "labour inputs".
Well considering means of production is the result of past labor inputs, and labor power is the current labor inputs, and profit is just unpaid wages, yes, the cost of production is the result of labor inputs, which explains the natural price. The market price can vary from the natural price, and this variation is explained by supply and demand, but the natural price is the anchor determined by production, which is labor inputs.

>>2550359
the natural price is itself a market price, as smith says:
<The actual price at which any commodity is commonly sold is called its market price. It may either be above, or below, or exactly the same with its natural price.
https://www.marxists.org/reference/archive/smith-adam/works/wealth-of-nations/book01/ch07.htm
>the cost of production is the result of labor inputs
again, if we qualify cost as labour, then we are ambiguous in what is quantified. its here that someone can claim that superintendence adds "labour" to the product for example, and its all indeterminate until we account for these factors by component prices (i.e. wages, rents, profits). once this is accounted for, it can be tallied as the cost of production. as i have said, labour in itself cannot be quantified, but only its representation. when marx derives value from labour for example, he says this:
<The value of a commodity, therefore, varies directly as the quantity, and inversely as the productiveness, of the labour incorporated in it. [V = q/p]
https://www.marxists.org/archive/marx/works/1867-c1/ch01.htm
if we substitute "productiveness" for "intensity" then we have the exact same terms as jevons, and thus labour can be measured by its finished product. in the same way, jevons and marx perceive profit over wages to be a result of the duration of labour, and thus marginal product meeting lesser duration equates at higher wages. i have discussed all this before: >>2495832
jevons already contends with the LTV of course:
(1) Cost of production determines supply.
(2) Supply determines final degree of utility.
(3) Final degree of utility determines value.
this simply appears to be the proper formulation of it.

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wait is the ai right. Did marx and carey interact with each other? The great american neo mercantalist interacting with karl marx himself is fascinating, if true

No, Henry Carey and Karl Marx did not meet in person, but they corresponded and had a complex professional relationship. Carey sent Marx copies of his books, and Marx wrote critically about Carey's work while also acknowledging his significance in American economics. They were indirectly involved through their writings for the New York Tribune, though their intellectual differences meant their interaction was more of a public and intellectual disagreement than a personal conversation.
Intellectual opponents: Marx considered Carey a rival and wrote about him critically to his collaborator, Friedrich Engels.
Source of material: Carey, an American economist, even cited Marx in his own work, referencing his articles from the New York Tribune.
Indirect interaction: While they did not meet, their engagement with each other's work, especially through the Tribune, created an indirect "dialogue" or "warfare" of ideas.
Mutual respect (with criticism): Marx privately referred to Carey as "the only American economist of importance," but was critical of his views, while Carey expressed respect for Marx's contributions to the Tribune.

>>2550330
(sorry I got distracted by something before completing my previous reply which was >>2550359)

>okay, so they are different things and so can be spoken of separately.

yet they interpenetrate, interconnect, and have ambiguity, and shouldn't be thought of as completely separate and not affecting one another. Recall that the stimulus behind this conversation was the following remark:
>>2548414
<politics and economics are not the same thing.
>how many self-proclaimed marxists would you estimate have actually read marx? how many anti-marxists do you think have actually read marx? see?
Not enough of either, evidently, but it never surprises me anymore when people don't do the reading because people are the products of an alienating environment rife with burdens, exploitation, and distractions.
>her policies were a one-sided class war against the workers, including social conservatism, which limits individual freedom.
When I hear "individual freedom" my first instinct is to question what that means for the person using the phrase. For someone like you, you would probably include freedom from exploitation as well as freedom to live as you please provided it does not harm anyone else. But for the bourgeoisie, "individual freedom" means the freedom of the individuals in the ruling class to exploit others. So there are mutually contradictory sorts of freedom. The freedom to exploit and the freedom from exploitation mutually exclude one another. The more people are free from being exploited, the fewer people are free to exploit. So you have to decide what kind of freedom, freedom to X, or freedom from X, you want to be available in society.
>you see the same contradiction in thatcher's mentor, friedman, who is a voluntarist until it comes to labour unions. the capitalist cant believe in the political power of the individual even if they ontologise them as slaves. the claim that society is only a series of individuals is also rhetorically used in rothbard's "for a new liberty" (1973) to prove that blaming "society" simply means blaming everybody else except yourself, which is true.
Not necessarily, the individual is part of the society in the same way that the heart is part of the body. If the body takes in a lot of endotoxins and the body goes into septic shock from low blood pressure and poor circulation, it's not the heart's fault, the heart is just embedded in a context where it becomes less effective than usual. What uses is there in the heart "blaming itself" for being in a body that has taken in a bunch of endotoxins? Similarly if society is structured in such a way that poverty is endemic, there is not much use in the impoverished individuals blaming themselves. I suppose particularly talented individuals can escape a statistically likely situation, but even having "natural" talent or having the time and resources to cultivate talent through practice is largely the result of luck. People start off as helpless infants long before they reach a point where they are capable of changing society, and once they are capable of changing society, society has already turned them into a product. So there is reciprocal action between the individual and society, but very asymmetrical reciprocal action, and it is a very rare thing that one individual is put in a position to change society a lot, and usually only because they are, by chance, at the center of a powerful network of other individuals, rather than because they are particularly special.
> as smith also says, the self-interest of the citizen is substituted with the class interest of capitalists, as "wealth" is falsely identified with profit. wealth means higher wages, not profits. engels also says that "national wealth" (e.g. GDP) is a contradictory metric for the same reason.
I agree with this and have no comments.
>we desire things that dont exist all the time. you are again confusing desire for demand. if you dont think that demand constitutes supply, take it up with marx.
OK. no comment.

>>2550387
>the natural price is itself a market price, as smith says:
the natural price is the market price where the cost of production (labor inputs) are sufficient to explain the price itself. You only need supply and demand to explain deviations, or disequilibrium from that cost of production.
>again, if we qualify cost as labour, then we are ambiguous in what is quantified. its here that someone can claim that superintendence adds "labour" to the product for example
superintedence does add labour, but the capitalist is compensated not for that labour. Rather they are compensated through unpaid wages called profit, which they disguise by saying they are merely performing the superior task of superintending. In slavery, for example, we enslaved overseers performing labor of superintendence without compensation. They are more privileged than other slaves usually, but that is a consequence of a tiered hierarchy where they are the minority, rather than their labor-power (which costs their subsistence) being somehow more valuable.
>and its all indeterminate until we account for these factors by component prices (i.e. wages, rents, profits)
If you restructure society in a revolutionary manner to no longer allow for rent, profit, or interest, and make what would have been become rent and profit as a collectively owned surplus kept aside for emergencies or for planned expansion of production based on projected population growth, you would, in my estimation, have achieved at least something like a lower stage of socialism. This is me talking, not Marx or Smith. As for the abolition of wages, you would just guarantee people have their needs met. Whether this is through a system of labor vouchers or something more modern is besides the point I think, though implementation details would matter in practice insofar as they could be gamed in a way to reintroduce exploitation. This is all possible insofar as people already produce through their labor, on average, more than they themselves need, at least as long as the sun continues to send Earth its energy. This is why surplus labor was exploited even in slavery and serfdom. Who fed the feudal lord's armies? "His" peasants.
>if we substitute "productiveness" for "intensity" then we have the exact same terms as jevons, and thus labour can be measured by its finished product. in the same way, jevons and marx perceive profit over wages to be a result of the duration of labour, and thus marginal product meeting lesser duration equates at higher wages. i have discussed all this before:
OK. No remarks yet. I'll think about that for a while.
>(1) Cost of production determines supply.
>(2) Supply determines final degree of utility.
>(3) Final degree of utility determines value.
>this simply appears to be the proper formulation of it.
There is something which determines cost of production, and it is
<The amount of labor time required to produce a commodity under normal conditions of production, with the average degree of skill and intensity of labor prevalent in a given society.
This is SNLT. And technology plays a central role in determining SNLT because it changes the average productivity of labor across society.

>>2550443
They were both connected through Horace Greeley's New York Tribune, which Marx wrote op-eds for, in English.

https://en.wikipedia.org/wiki/Henry_Charles_Carey#New_York_Tribune

>>2550514
what a convenient situation. These two men who arguably influenced a lot of economic thought in the future, were writing for the same newspaper

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>>2550448
>yet they interpenetrate
yes… but theyre not the same thing.
>for the bourgeoisie, "individual freedom" means the freedom of the individuals in the ruling class to exploit others
yes, this is smith's point. the self-interest of the capitalist is inherently contrary to that of the citizen, and so the individual as such is suppressed (an example of this tendency would be war, which is poor young men dying for rich old men, even as it was depicted in the iliad nearly 3,000 years ago). i am a true internationalist in this cause. marx makes a finer point, that the capitalist himself is a slave to profit, and so his own individuality is subsumed by an alien subjectivity.
>So there is reciprocal action between the individual and society
"society" is not an object (where does it begin and end?)
individuals relate to other individuals. if you dont think so, then you must not think the officer who is "just following orders" has any personal responsibility.
>superintedence does add labour
so why doesnt this labour enter into the value? i would say, like marx says about the slave, that this labour simply isnt paid and so cannot be accounted for.
>If you restructure society in a revolutionary manner to no longer allow for rent, profit, or interest…
a slave society can also manage without those terms.
>if you tax rent and profit you have socialism
taxing rents make sense, but taxing profits makes less, since rents rise with wages, while profits decline. plus, putting a tax on production raises prices arbitrarily, while a consumption tax for example, raises prices proportionally, especially if there is no income tax (which i have previously advocated for): >>2525784
>There is something which determines cost of production [SNLT]
but isnt SNLT measured by costs implicit in the wage (e.g. duration)? so to say, the abstraction of SNLT depends upon standardising labour according to cost, and so the category of labour begins as a cost. i had this discussion in the first thread, where it seems that (SNLT = wage), and not a "physical" relation per se. the importance of considering this is that labour collectively aggregates a median rate of productivity while median wages do not correspond to individual activity. this is why i like marx's idea of allowing harder workers to receive more back in equality with what they give, yet the declaration that people will only get what they "need" in a "higher phase" society seems like a regression. if people are better, let them be better.

>>2550260
>production is limited by the utility of objects
but thats wrong. production is limited by labor

>>2550659
what is labour?
<Lastly nothing can have value, without being an object of utility. If the thing is useless, so is the labour contained in it; the labour does not count as labour, and therefore creates no value.
https://www.marxists.org/archive/marx/works/1867-c1/ch01.htm

>>2550571
>the abstraction of SNLT depends upon standardising labour according to cost, and so the category of labour begins as a cost.
yes… but theyre not the same thing, so they are different things and so can be spoken of separately.

>>2550662
how do we define SNLT outside of wages?

>>2550664
i think time is usually measured with clocks

>>2550670
ah, so this is the peepee poopoo time of the thread
i'll check back in tomorrow

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this should interest you: >>>/edu/25237
<Vincent de Gournay, a French Physiocrat and intendant of commerce in the 1750s, popularized the term laissez-faire as he allegedly adopted it from François Quesnay's writings on China. Quesnay coined the phrases laissez-faire and laissez-passer, laissez-faire being a translation of the Chinese term wu wei (無為).
https://en.wikipedia.org/wiki/Laissez-faire

>>2549683
This depends on whether the person talking about the financialization of the economy wants to use state capitalism as a temporary solution and a socialist economy in solidarity with the world's workers as the real solution. If the person is fantasizing about returning to capitalism with Fordist class conciliation against "technofeudalism," then this person is ignorant because there is no national capitalist with interests separate from financial capital currently to make any deal. This type of analysis depends on what solution the person will propose or if they understand that current financialized capitalism is a continuation of the previous industrial capitalism that changed as capitalists' profit rates decreased and these capitalists felt comfortable not having an organized threat from radicalized workers against the capitalist ruling class to force the bourgeoisie to make concessions. People who accuse of antisemitism probably don't know the socialist solution, which would involve the use of public enterprises and the democratization of the economy for use value instead of speculation and sale for exchange value to make a profit. This means going against private property and anarchy of production.


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