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Economics Discussion Thread

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To which school of economics do you personally prescribe?

Monetarist/Chicago-School
7
3%
Keynesian/Neo-Keynesian/New Keynesian/Post-Keynesian
51
24%
Neoclassical
6
3%
Austrian-School
31
14%
Mercantilist
6
3%
Classical
5
2%
Corporatist
11
5%
American/National
15
7%
Marxian/Socialist
60
28%
Other
23
11%
 
Total votes : 215

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Constantinopolis
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Liberal Democratic Socialists

Postby Constantinopolis » Wed Dec 20, 2017 4:01 pm

Lalaki wrote:I notice that Marxian economics got a plurality of votes in the poll.

I have an honest question. Why has a Marxist society never successfully come to fruition? We have seen several cases where the radical left takes a government over, but then fails to accomplish its goals. They collapse into authoritarianism, or individual leaders take advantage of the system to secure their own power, or the economy plunges and people revolt, or they transition back to capitalism, etc. There are always convenient explanations that are given by Marxists. If only Stalin had never shown up, then the USSR would've been successful! Venezuela's movement was doomed by American economic imperialism. The Chinese Communist Party is a piecemeal organization that betrayed its roots. North Korea's leaders never adopted (and perhaps never believed in) true communism. Cuba had to become a dictatorship to weed out capitalist influences. Different arguments, all pointing out how successful a revolution could've been if only things had gone right.

These perspectives all contain flaws though. The fact that nearly all communist revolutions have produced authoritarian states is a testament to how susceptible their theories are to do the age-old truism: power corrupts. And even in regards to the situations where communist states were harmed by western embargoes, isn't the point of their revolutions to reject capitalism and show that another way forward is possible? Why is Venezuela being held back by America if Chavez and Maduro wanted to have independence from our economic circle? Are they looking for development assistance from capitalist countries? At some point, it stops being the "west's fault."

Whenever I point out to communists that genuine progress in economic/social equality can be made through socially democratic reforms, they are quick to emphasize that problems still persist and that no amount of non-revolutionary action can get the job done. Efforts in a market society to reduce poverty, guarantee health care, and boost economic equality, no matter how successful, are not enough in the absence of rebellion. If we are to apply this standard of absolutism to social democracies, however, I will apply the same to the twentieth century's communist experiments. When people are still suffering and have lost their political liberties, whatever you're proposing isn't enough.

A Marxist society can only be said to have "never successfully come to fruition" if you take an absolutist, all-or-nothing approach to Marxist goals. In other words, what is true is that no Marxist government has ever fully accomplished Marxist goals. But then, few ideologies can point to a historical government and say "this is the perfect example of everything we wanted". Most people are happy to point to governments that have only kind-of sort-of accomplished their goals as good examples of their ideology in action. Libertarians point to 19th century America, social democrats point to Sweden, liberals point to... almost any present-day Western government. Despite the fact that these do not represent perfect examples of those ideologies in action, and everyone understands that the people who bring them up are not endorsing every single thing those governments ever did.

The problem is, when Marxists do the same - when we point to governments that have sort-of accomplished Marxist goals, but not fully, such as for example the Soviet Union - we are immediately asked to defend every bad thing that those governments ever did. "So you support central planning, huh? What about Stalin's Gulag??" This is a double standard, since no other ideology is taken to account for similar problems with the historical examples that it brings up. When social democrats bring up Sweden, no one questions them on whether they support eugenic sterilizations in the 1950s. When libertarians bring up 19th century America, no one questions them on whether they support slavery for black people. Of course they don't. It is understood that they only support certain aspects of these societies, not everything. When Sweden did something clearly anti-social-democratic, or when 19th century America did something clearly anti-libertarian, it is understood that those things are not supported by social democrats or libertarians.

But Marxists are usually not allowed to support only certain aspects of the Soviet Union and not others, or the USSR at certain points in its history and not at other points. Everyone always brings up Stalin's crimes - which is the equivalent of people always bringing up slavery when someone praises the United States. So, to avoid the difficulty of having to deal with this, many Marxists take an absolutist stance and simply claim that the USSR was not Marxist, because it departed from Marxist principles in a number of important ways.

Personally, I am not one of those Marxists. I affirm that the Soviet Union, and the other socialist planned economies of the 20th century, represented imperfect examples of Marxism in action. I defend the economy of the Soviet Union and of the other Warsaw Pact countries, as I did for many pages in the beginning of this thread, for example. Of course, I also admit that they had many problems, they did many things wrong, they departed from Marxist goals in several major ways... but they were still more Marxist than not. We should learn from their experience, from their successes as well as their failures, and do better in the future. Simply plugging our ears and going "la la la they weren't Marxist and we don't have to pay attention to them" is stupid.

So then, you might say: "Okay, granted, we had imperfect examples of Marxism in history. And granted, they did some things right. But surely, overall, they weren't better than social democracies, right? So why are you a Marxist and not a social democrat?"

And you are correct, it's hard to argue that the Soviet Union was better than Sweden. And while social democracy in Sweden is being inexorably destroyed by neoliberalism, the USSR and the Warsaw Pact also fell, after all, so it's not clear which one has the potential to last longer than the other. So why don't I support social democracy? Because I don't believe social democracy is possible any more.

I don't think social democracy was ever actually possible in a vacuum. I think the existence of social democracy was only made possible by the Soviet threat. The capitalists only agreed to a compromise with the working class because they were afraid that a communist revolution would happen otherwise. Social democracy was the step-child of Marxism, and cannot survive without a looming Marxist threat to frighten the capitalists into making a compromise.

That is why I am not a social democrat. Because I don't believe social democratic Sweden could have happened in the absence of the big scary USSR next door. I don't believe you can ever get social democracy by fighting for social democracy. You can only get social democracy in country X by having a communist revolution in country Y that scares the shit out of the capitalists of the world. Strength is the only language that the capitalists understand.
Last edited by Constantinopolis on Wed Dec 20, 2017 4:04 pm, edited 1 time in total.
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"Only a life lived for others is a life worthwhile." -- Albert Einstein
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________________Communist. Leninist. Orthodox Christian.________________
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Kibbutz Unions
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Postby Kibbutz Unions » Wed Dec 20, 2017 4:03 pm

Janszoonia wrote:
Kibbutz Unions wrote:Also:
-Mapai-led Israel
-Pre-Stalin Soviet Union
-Tito's Yugoslavia
-Anarchist Spain
-Norway (Yeah yeah, it's considered more of a Social-Democracy but honestly it's borderline Socialist)
-I'd argue, to an extent, Cuba
-Kerala
-Albania?
-Nowdays, Rojava seems to benefit the people of Syria

I'm certain there are other examples too, but whatever...

-Mapai-led Israel Capitalist enough to avoid a coup.
-Pre-Stalin Soviet Union Too short.
-Tito's Yugoslavia I'll give you that.
-Anarchist Spain Orwell criticized it.
-Norway (Yeah yeah, it's considered more of a Social-Democracy but honestly it's borderline Socialist) It is DemSoc
-I'd argue, to an extent, Cuba No
-Kerala DemSoc
-Albania? No
-Nowdays, Rojava seems to benefit the people of Syria DemSoc

-Socialist enough to use stamps instead of currency
-A decade of extreme increase of quality of life in well enough to recognize the success of the socialist economy
-thanks
-Actually Orwell praised it and mentioned that he is sorry he didn't join them instead of the Trotskyists
-Democratic Socialism is Socialism
-Yes
-Democratic Socialism is Socialism
-Well, fine then- no. I don't know enough about Albania to debate with you about that one
-Democratic Socialism is Socialism
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Taihei Tengoku
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Postby Taihei Tengoku » Wed Dec 20, 2017 4:07 pm

Orostan wrote:
Taihei Tengoku wrote:all of it :::::::::-----------DDDDDDDDDDD

You can objectivly measure surplus value.

yeah it's zero because LTV is wrong
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Constantinopolis
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Liberal Democratic Socialists

Postby Constantinopolis » Wed Dec 20, 2017 4:14 pm

Taihei Tengoku wrote:
Orostan wrote:You can objectivly measure surplus value.

yeah it's zero because LTV is wrong

Note: You can believe that property income is immoral and should be abolished (or, I suppose, redistributed) without necessarily endorsing the LTV. This was the approach of the "Analytical Marxist" school, for example. They accepted standard neoclassical economics, but combined it with the normative belief that capitalism is morally wrong. Roemer even came up with an interesting re-definition of capitalist exploitation that uses only mainstream economic concepts but leads to the same normative conclusion as Marxism.

I don't agree with them, I'm just pointing out that it can be done. The claim "capitalism exploits workers and this is morally evil" does not have to be based on the claim "the LTV is correct".
The Holy Socialist Republic of Constantinopolis
"Only a life lived for others is a life worthwhile." -- Albert Einstein
Political Compass: Economic Left/Right: -10.00 Social Libertarian/Authoritarian: -1.64
________________Communist. Leninist. Orthodox Christian.________________
Communism is the logical conclusion of Christian morality. "Whoever loves his neighbor as himself owns no more than his neighbor does", in the words of St. Basil the Great. The anti-theism of past Leninists was a tragic mistake, and the Church should be an ally of the working class.
My posts on the 12 Great Feasts of the Orthodox Church: -I- -II- -III- -IV- -V- -VI- -VII- -VIII- [PASCHA] -IX- -X- -XI- -XII-

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Janszoonia
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Postby Janszoonia » Wed Dec 20, 2017 4:21 pm

Kibbutz Unions wrote:
Janszoonia wrote:-Mapai-led Israel Capitalist enough to avoid a coup.
-Pre-Stalin Soviet Union Too short.
-Tito's Yugoslavia I'll give you that.
-Anarchist Spain Orwell criticized it.
-Norway (Yeah yeah, it's considered more of a Social-Democracy but honestly it's borderline Socialist) It is DemSoc
-I'd argue, to an extent, Cuba No
-Kerala DemSoc
-Albania? No
-Nowdays, Rojava seems to benefit the people of Syria DemSoc

-Socialist enough to use stamps instead of currency
-A decade of extreme increase of quality of life in well enough to recognize the success of the socialist economy
-thanks
-Actually Orwell praised it and mentioned that he is sorry he didn't join them instead of the Trotskyists
-Democratic Socialism is Socialism
-Yes
-Democratic Socialism is Socialism
-Well, fine then- no. I don't know enough about Albania to debate with you about that one
-Democratic Socialism is Socialism


Now that leaves the question of how are you going to implement socialism in the United States? The Democratic Party is more Keynesian than it is Marxist (despite what crazy right wingers may say), I feel that socialists and libertarians have a big thing in common--the two parties have completely betrayed us. The United States is run by two Keynesian, Interventionist, Globalist (not to be confused with internationalism) parties. The only thing socialists can do is go form their communes, and we libertarians will all become preppers with Bitcoin stock.
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Kibbutz Unions
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Postby Kibbutz Unions » Wed Dec 20, 2017 4:25 pm

Janszoonia wrote:
Kibbutz Unions wrote:-Socialist enough to use stamps instead of currency
-A decade of extreme increase of quality of life in well enough to recognize the success of the socialist economy
-thanks
-Actually Orwell praised it and mentioned that he is sorry he didn't join them instead of the Trotskyists
-Democratic Socialism is Socialism
-Yes
-Democratic Socialism is Socialism
-Well, fine then- no. I don't know enough about Albania to debate with you about that one
-Democratic Socialism is Socialism


Now that leaves the question of how are you going to implement socialism in the United States? The Democratic Party is more Keynesian than it is Marxist (despite what crazy right wingers may say), I feel that socialists and libertarians have a big thing in common--the two parties have completely betrayed us. The United States is run by two Keynesian, Interventionist, Globalist (not to be confused with internationalism) parties. The only thing socialists can do is go form their communes, and we libertarians will all become preppers with Bitcoin stock.

I am not an American. I don't know how Americans will (Or more appropriately, if) implement Socialism.

Also, do you mean globalization or (((globalism))) because those are different things, you know.
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Orostan
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Postby Orostan » Wed Dec 20, 2017 4:25 pm

Constantinopolis wrote:
Taihei Tengoku wrote:yeah it's zero because LTV is wrong

Note: You can believe that property income is immoral and should be abolished (or, I suppose, redistributed) without necessarily endorsing the LTV. This was the approach of the "Analytical Marxist" school, for example. They accepted standard neoclassical economics, but combined it with the normative belief that capitalism is morally wrong. Roemer even came up with an interesting re-definition of capitalist exploitation that uses only mainstream economic concepts but leads to the same normative conclusion as Marxism.

I don't agree with them, I'm just pointing out that it can be done. The claim "capitalism exploits workers and this is morally evil" does not have to be based on the claim "the LTV is correct".

I personally don't make moral arguments about Capitalism. The thing wrong with Capitalism isn't that its morally wrong. It's that Capitalism is the most crisis-prone system to ever exist, and has a host of other structural issues.

Taihei Tengoku wrote:
Orostan wrote:You can objectivly measure surplus value.

yeah it's zero because LTV is wrong


Explain why you don't like the LTV again?
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Hydesland
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Postby Hydesland » Wed Dec 20, 2017 4:28 pm

Orostan wrote:It's that Capitalism is the most crisis-prone system to ever exist, and has a host of other structural issues.


More like most crisis resistant, compared to basically every other system that has collapsed and been replaced so far.

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Kibbutz Unions
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Postby Kibbutz Unions » Wed Dec 20, 2017 4:30 pm

Hydesland wrote:
Orostan wrote:It's that Capitalism is the most crisis-prone system to ever exist, and has a host of other structural issues.


More like most crisis resistant, compared to basically every other system that has collapsed and been replaced so far.

I don't think he refers to systematic crises (In which the systems themselves suffer and collapse) but rather the frequency of human crises (As in crises that harm the people in order to preserve the system)
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Taihei Tengoku
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Postby Taihei Tengoku » Wed Dec 20, 2017 4:39 pm

Constantinopolis wrote:
Taihei Tengoku wrote:yeah it's zero because LTV is wrong

Note: You can believe that property income is immoral and should be abolished (or, I suppose, redistributed) without necessarily endorsing the LTV. This was the approach of the "Analytical Marxist" school, for example. They accepted standard neoclassical economics, but combined it with the normative belief that capitalism is morally wrong. Roemer even came up with an interesting re-definition of capitalist exploitation that uses only mainstream economic concepts but leads to the same normative conclusion as Marxism.

I don't agree with them, I'm just pointing out that it can be done. The claim "capitalism exploits workers and this is morally evil" does not have to be based on the claim "the LTV is correct".

Surplus value cannot exist without labor theory. If you accept neoclassical economics you accept marginalism, which makes mincemeat of "surplus value." If there is no surplus value there is nothing to steal--I've explained a dozen times on several threads marginal compensation tracks marginal productivity.

Orostan wrote:
Taihei Tengoku wrote:yeah it's zero because LTV is wrong


Explain why you don't like the LTV again?

It's incorrect. How would you feel if you went on an Astronomy Discussion Thread filled with geocentrists and flat-earthers?
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Orostan
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Postby Orostan » Wed Dec 20, 2017 4:42 pm

Hydesland wrote:
Orostan wrote:It's that Capitalism is the most crisis-prone system to ever exist, and has a host of other structural issues.


More like most crisis resistant, compared to basically every other system that has collapsed and been replaced so far.

https://en.wikipedia.org/wiki/List_of_economic_crises

i beg to differ
“It is difficult for me to imagine what “personal liberty” is enjoyed by an unemployed hungry person. True freedom can only be where there is no exploitation and oppression of one person by another; where there is not unemployment, and where a person is not living in fear of losing his job, his home and his bread. Only in such a society personal and any other freedom can exist for real and not on paper.” -J. V. STALIN
Ernest Hemingway wrote:Anyone who loves freedom owes such a debt to the Red Army that it can never be repaid.

Napoleon Bonaparte wrote:“To understand the man you have to know what was happening in the world when he was twenty.”

Cicero wrote:"In times of war, the laws fall silent"



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Hydesland
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Postby Hydesland » Wed Dec 20, 2017 4:46 pm

Orostan wrote:
Hydesland wrote:
More like most crisis resistant, compared to basically every other system that has collapsed and been replaced so far.

https://en.wikipedia.org/wiki/List_of_economic_crises

i beg to differ


a) there's no reason to expect this list to be comprehensive b) given the overwhelming majority of society since global population has been >1 billion has been capitalist, of course they'd have a higher amount of cumulative crises. Doesn't stop the fact that the most overwhelmingly successful societies around today are capitalist, while other systems have collapsed.

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Orostan
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Postby Orostan » Wed Dec 20, 2017 4:46 pm

Taihei Tengoku wrote:It's incorrect.

where are proofs? xxxd

Taihei Tengoku wrote:Surplus value cannot exist without labor theory. If you accept neoclassical economics you accept marginalism, which makes mincemeat of "surplus value." If there is no surplus value there is nothing to steal--I've explained a dozen times on several threads marginal compensation tracks marginal productivity.

Marginal Utility is bullsh*t, and I'll explain why. So, as I understand it it goes something like this. The value of a good is based on it's "marginal utility" to a market which depends on supply and demand. This ignores what the actual utility of the product is, and that a microwave produced during a period of low supply and high demand and an identical microwave produced during a period of high supply and low demand have different prices but have the same use value. I can microwave a burrito with the first microwave as well as I can microwave a burrito with the second microwave. Their prices are the only thing that is different.
“It is difficult for me to imagine what “personal liberty” is enjoyed by an unemployed hungry person. True freedom can only be where there is no exploitation and oppression of one person by another; where there is not unemployment, and where a person is not living in fear of losing his job, his home and his bread. Only in such a society personal and any other freedom can exist for real and not on paper.” -J. V. STALIN
Ernest Hemingway wrote:Anyone who loves freedom owes such a debt to the Red Army that it can never be repaid.

Napoleon Bonaparte wrote:“To understand the man you have to know what was happening in the world when he was twenty.”

Cicero wrote:"In times of war, the laws fall silent"



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Taihei Tengoku
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Postby Taihei Tengoku » Wed Dec 20, 2017 4:48 pm

Orostan wrote:
Hydesland wrote:
More like most crisis resistant, compared to basically every other system that has collapsed and been replaced so far.

https://en.wikipedia.org/wiki/List_of_economic_crises

i beg to differ

Under markets economic crises are nominal crises, i.e. "we don't have the money we thought we had"

The failure mode of socialism is a real crisis, i.e. "we don't have the food we thought we had"
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Hydesland
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Postby Hydesland » Wed Dec 20, 2017 4:54 pm

Orostan wrote:Marginal Utility is bullsh*t, and I'll explain why. So, as I understand it it goes something like this. The value of a good is based on it's "marginal utility" to a market which depends on supply and demand. This ignores what the actual utility of the product is, and that a microwave produced during a period of low supply and high demand and an identical microwave produced during a period of high supply and low demand have different prices but have the same use value. I can microwave a burrito with the first microwave as well as I can microwave a burrito with the second microwave. Their prices are the only thing that is different.


You're overthinking it - the *value* of any good is subjective and not some scientific function of labour hours.

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Taihei Tengoku
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Postby Taihei Tengoku » Wed Dec 20, 2017 4:56 pm

Orostan wrote:Marginal Utility is bullsh*t, and I'll explain why. So, as I understand it it goes something like this. The value of a good is based on it's "marginal utility" to a market which depends on supply and demand. This ignores what the actual utility of the product is, and that a microwave produced during a period of low supply and high demand and an identical microwave produced during a period of high supply and low demand have different prices but have the same use value. I can microwave a burrito with the first microwave as well as I can microwave a burrito with the second microwave. Their prices are the only thing that is different.

Yes, that's exactly why marginal utility works. It explains perfectly well why people don't buy two microwaves when they only need one--they don't value it because they only have one. For other people who are without microwaves they look at the price and see whether it's worth it.
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Orostan
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Postby Orostan » Wed Dec 20, 2017 5:16 pm

Hydesland wrote:
Orostan wrote:Marginal Utility is bullsh*t, and I'll explain why. So, as I understand it it goes something like this. The value of a good is based on it's "marginal utility" to a market which depends on supply and demand. This ignores what the actual utility of the product is, and that a microwave produced during a period of low supply and high demand and an identical microwave produced during a period of high supply and low demand have different prices but have the same use value. I can microwave a burrito with the first microwave as well as I can microwave a burrito with the second microwave. Their prices are the only thing that is different.


You're overthinking it - the *value* of any good is subjective and not some scientific function of labour hours.

The reason a car is more valuable than a push cart is because a car requires more labor to produce, for example. The labor theory of value only explains the price of goods at equilibrium price, it's not the labor theory of price.

Taihei Tengoku wrote:
Orostan wrote:Marginal Utility is bullsh*t, and I'll explain why. So, as I understand it it goes something like this. The value of a good is based on it's "marginal utility" to a market which depends on supply and demand. This ignores what the actual utility of the product is, and that a microwave produced during a period of low supply and high demand and an identical microwave produced during a period of high supply and low demand have different prices but have the same use value. I can microwave a burrito with the first microwave as well as I can microwave a burrito with the second microwave. Their prices are the only thing that is different.

Yes, that's exactly why marginal utility works. It explains perfectly well why people don't buy two microwaves when they only need one--they don't value it because they only have one. For other people who are without microwaves they look at the price and see whether it's worth it.

Because they don't need two microwaves which have the same use value. The people without microwaves have the same use for a microwave as someone who does own one. They just can't afford it because the exchange value of the microwave is beyond their reach,
“It is difficult for me to imagine what “personal liberty” is enjoyed by an unemployed hungry person. True freedom can only be where there is no exploitation and oppression of one person by another; where there is not unemployment, and where a person is not living in fear of losing his job, his home and his bread. Only in such a society personal and any other freedom can exist for real and not on paper.” -J. V. STALIN
Ernest Hemingway wrote:Anyone who loves freedom owes such a debt to the Red Army that it can never be repaid.

Napoleon Bonaparte wrote:“To understand the man you have to know what was happening in the world when he was twenty.”

Cicero wrote:"In times of war, the laws fall silent"



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Taihei Tengoku
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Postby Taihei Tengoku » Wed Dec 20, 2017 5:22 pm

People do factor the utility they get from goods into their economic decisions, which is why it's called marginal utility. If they can't afford it that means they have to give up too much of other things to acquire it (opportunity costs).

Marginal utility also explains equilibrium prices through supply and demand curves (marginal revenue=marginal cost) in a wholly satisfactory fashion. It can also explain prices out of equilibrium, which apparently LTV cannot? Truly a useless theory if it does nothing new or cannot explain what happens beyond "capitalist roaders did it"
Last edited by Taihei Tengoku on Wed Dec 20, 2017 5:23 pm, edited 1 time in total.
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Orostan
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Postby Orostan » Wed Dec 20, 2017 5:29 pm

Taihei Tengoku wrote:People do factor the utility they get from goods into their economic decisions, which is why it's called marginal utility. If they can't afford it that means they have to give up too much of other things to acquire it (opportunity costs).

Marginal utility also explains equilibrium prices through supply and demand curves (marginal revenue=marginal cost) in a wholly satisfactory fashion. It can also explain prices out of equilibrium, which apparently LTV cannot? Truly a useless theory if it does nothing new or cannot explain what happens beyond "capitalist roaders did it"

LTV determines what the relative value of a fungible commodity is. For example, if my phone took more labor to produce than my chair my phone will be worth more at equilibrium price. Marginal Utility doesn't explain what makes a product valuable well enough. It doesn't explain why when labor is mechanized, the price of a commodity is reduced. It doesn't explain why a computer made in 1985 cost more than a computer made today, even though its utility and quality was lower.
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Postby Taihei Tengoku » Wed Dec 20, 2017 5:36 pm

What's the point then? Marginalism also takes into account the marginal costs of production in the supply curve. A computer in 1985 had very high marginal costs--but it also had marginal benefits greater than the cost, which is why people bought them.
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Postby Hydesland » Wed Dec 20, 2017 5:46 pm

Orostan wrote:The reason a car is more valuable than a push cart is because a car requires more labor to produce, for example.


Uh no, the reason a car is more valuable than a push cart (to most people) is because it's faster.
Last edited by Hydesland on Wed Dec 20, 2017 5:47 pm, edited 1 time in total.

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Postby Taihei Tengoku » Wed Dec 20, 2017 5:47 pm

"the earth is round"
"no it's flat and the sun precesses around the north pole"
"explain why it rotates"
"it's a disc"
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Postby Chestaan » Wed Dec 20, 2017 6:02 pm

Taihei Tengoku wrote:

Under markets economic crises are nominal crises, i.e. "we don't have the money we thought we had"

The failure mode of socialism is a real crisis, i.e. "we don't have the food we thought we had"


You seem to be under the misapprehension that capitalist societies never lead to starvation.

EDIT: In fact capitalist societies somehow manage to go one step further, simultaneously creating the apparently contradictory crises of both starvation and large scale wastage of food.
Last edited by Chestaan on Wed Dec 20, 2017 6:07 pm, edited 1 time in total.
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Postby Taihei Tengoku » Wed Dec 20, 2017 6:16 pm

Chestaan wrote:
Taihei Tengoku wrote:Under markets economic crises are nominal crises, i.e. "we don't have the money we thought we had"

The failure mode of socialism is a real crisis, i.e. "we don't have the food we thought we had"


You seem to be under the misapprehension that capitalist societies never lead to starvation.

EDIT: In fact capitalist societies somehow manage to go one step further, simultaneously creating the apparently contradictory crises of both starvation and large scale wastage of food.

Poor people in capitalist societies are obese--that's the exact opposite of starvation.
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Postby Chestaan » Wed Dec 20, 2017 6:22 pm

Taihei Tengoku wrote:
Chestaan wrote:
You seem to be under the misapprehension that capitalist societies never lead to starvation.

EDIT: In fact capitalist societies somehow manage to go one step further, simultaneously creating the apparently contradictory crises of both starvation and large scale wastage of food.

Poor people in capitalist societies are obese--that's the exact opposite of starvation.


And what about the millions that die of hunger each year?
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