You can't keep the 'equivalent' unless someone gives you the 'equivalent' and who gets to decide what 'equivalent' is and who gives me whatever I wish?
Why would or should I, as a member of society, give to some factory workers who produce cars when I may not want a car but something else instead? Who gets to decide how the product of my labor is distributed to others? This is one of the reasons why this economics of this theory are so inefficient. Resources are wasted producing thing that at the end of the day people may not even want or need or may be complete crap. Competition is a large part of what leads to improvement. If the masses are forced to prefund everything then where is the incentive to innovate and make a quality product?
Most importantly, how do you implement all this without a strong government to enforce and decide things? If you can get the masses to voluntarily fund what you are doing then go for it.
Marxism IS a theory that advocates communism which has been proven to work much more poorly than capitalism (even the flawed kind we have in the U.S.) on multiple occasions."
to which you still haven't made any arguments against or defined your positions outside the one word reply "the masses"
and
"they get the equivalent of their labor done building the factor back from the society while building it........"
..... doesn't mean anything, it's an omission, they get it back from society, wonderful nonsensical thought, no specifics no rationale just affirming the flawed "the masses" response again and again.
You assume a zero-sum game when in reality value is subjective, allowing a win-win exchange where both parties benefit. You also refuse to consider the factors of time preference and the economic calculation problem.
No. The labor theory of value is completely worthless. Labor is merely a factor, not the whole.
Value is measured in the satisfaction of wants for the consumer. Prices are a signal informing producers of the supply and demand of the various factors of production, including labor, another with the competing demands in the market of producers and consumers.
Political intervention in the economy is anti-market distortion that causes gluts and shortages, inflation, crony protectionism, etc.
@darth-azrael60
to which you still haven't made any arguments against or defined your positions outside the one word reply "the masses"
and
"they get the equivalent of their labor done building the factor back from the society while building it........"
..... doesn't mean anything, it's an omission, they get it back from society, wonderful nonsensical thought, no specifics no rationale just affirming the flawed "the masses" response again and again.
Oh, the ketchup horror!
You assume a zero-sum game when in reality value is subjective, allowing a win-win exchange where both parties benefit. You also refuse to consider the factors of time preference and the economic calculation problem.
value is measured in the amount of labor it takes to produce it
energy is a 0 sum game
No. The labor theory of value is completely worthless. Labor is merely a factor, not the whole.
Value is measured in the satisfaction of wants for the consumer. Prices are a signal informing producers of the supply and demand of the various factors of production, including labor, another with the competing demands in the market of producers and consumers.
Political intervention in the economy is anti-market distortion that causes gluts and shortages, inflation, crony protectionism, etc.
labor itself is the only thing that ties value to objects
Nope. Not even close, and I guarantee your own actions in your own life refute your claim.