labour theory of value questioned
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The Postmodern Labor Theory of Value and the Illusion of Exploitation
the usual stuff about value being subjective
I do not take anything with seriousness from any Economist graduated from the University of Chicago. The Chicago Boys came from that center of pro-capitalists and followers of Anarcho Capitalism. They have created a wrong impression of what Anarchism really is
Now posted on our blog
https://socialismoryourmoneyback.blogspot.com/2019/07/rebutting-rebuttal.html
https://www.marxists.org/archive/dunayevskaya/works/1944/revision.htm
Raya Dunayeskaya also made good explanations about Marx’s Theory of value and she rejected many false allegations made against Marx theory of labour
As Robin’s article argues, Marx’s theory of value was neither subjective alone nor objective alone, but ‘subjective-objective’. An alternative term for this linking of the subject and object is ‘productive’.
We produce our value, it’s a ‘value-for-us’. This ‘value’ is thus neither ‘individual estimation’ nor ‘matter’ (this latter Marx specifically says in Capital), but our socio-historical product, and thus we can change it.
It’d make some sense to call it Marx’s ‘Productive Labour theory of value’.
As Shaun Commack wrote:
“Postmodernism is characterized by a rejection of objectivity and absolute truth, which obviously brings it into conflict with the labor theory of value. However, postmodernism is also highly skeptical of logic and coherence, so we end up with a postmodern labor theory of value, in which an individual’s subjective value is the objective value of the object. Both absolute objective value and negotiated value are rejected. This introduces a problem, which is solved by group identity.”
Just mumbo jumbo if you ask me.
Like all the new theory that are floating in the air in this society, they make no sense and are based on illusions and false principles. Thousands of reformists and pro-capitalists and anarchists have tried to reject Marx theory of value, but all have failed completely, I do not even waste my times with them, it would be better to talk to an evangelical
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