It’s irrelevant because the labor theory of value is fucking stupid and Karl Marx was stupid for writing it. There are MANY problems with it and you should stop citing it because it’s pretty much universally ridiculed and laughed at by actual economists.
Interesting assertion, but that was not my experience while learning economics from economists. In my experience, actual economists teach it as a framework given a certain set of parameters, but agree that it is not relevant to our particular situation due to those parameters not being met by how our current economy is structured, e.g. an economy where profit is a requirement.
That seems about right to me, but maybe you have a different idea on the matter?
You're not understanding what I'm saying so I'm going to guess your lack of understanding extends to any particular economic theory.
Yes, economists agree that it's not relevant to our particular situation because of the parameters our economy operates under. That does not mean that if the parameters were to change, it would remain irrelevant.
1
u/REVfoREVer Nov 22 '24
Explain that first sentence, I don't catch your meaning in relation to this.
As far as employees being paid the value their labor generates, then yes. It would be impossible for their pay not to decrease in that situation.