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   Yogthos (yogthos@mas.to)'s status on Wednesday, 31-Jan-2024 01:59:08 JST Yogthos

   Western “economics” for the past century mostly boil down to liberals inventing new ways to ignore the labor theory of value.

   #economy

   https://taiyangyu.medium.com/addressing-common-criticisms-of-the-labor-theory-of-value-bdf49281fab

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     pettter (pettter@mastodon.acc.umu.se)'s status on Wednesday, 31-Jan-2024 01:59:07 JST pettter

     in reply to

     @yogthos Any theory which tries to reduce 'value' to a singular thing that can be measured and weighed as a contextless universal is flawed imo, including the LTV. Determining the 'fair price' of anything is a fruitless distraction.

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     pettter (pettter@mastodon.acc.umu.se)'s status on Wednesday, 31-Jan-2024 03:39:35 JST pettter

     in reply to

     @yogthos Sure, that's fair

   • Embed this notice
     Yogthos (yogthos@mas.to)'s status on Wednesday, 31-Jan-2024 03:39:36 JST Yogthos

     in reply to

     • pettter

     @pettter ironically your own criticism of LTV is reductive in the extreme