Re: Marx was right bs

EmperorNero — Sun, 18 Sep 2011 18:50:57 GMT

Lol, Marx thought that capitalism was "unstable" because of ridiculous implications following from the labor theory of value: The value of everything is the labor that went into it. (Marginal revolution, anyone?) Profit is surplus value taken from paying labor less than it is worth (um, no, supply and demand). Therefore, the introduction of labor-saving machinery eliminates profits (nope, capital-intensive industries don't have lower profit rates) and creates unemployment (no, it doesn't). But because competition forces capitalists to substitute machinery for labor, the proletariat would get larger and poorer (which it didn't, it got richer), and eventually it would be fed up and overthrow the system some time in the late 19th century. (Which didn't happen.) Lol, that was Marx' brilliant prediction. It's objective value nonsense coupled with zero-sum fallacies and free lunch theories. And somehow nobody noticed that we're way past his deadline. Anyone asking himself seriously whether "Marx was right" should actually read that stuff, because it's not a sound theory at all. I find it funny that Marx' conclusions are always presented these days without any mention of the (seriously flawed) theoretical basis that he used to arrive at them.

Re: Marx was right bs

Wheylous — Sun, 18 Sep 2011 18:02:28 GMT

http://mises.org/Community/forums/p/26114/436826.aspx

Marx was right bs

TANSTAAFL — Sun, 18 Sep 2011 17:59:02 GMT

http://www.bbc.co.uk/news/magazine-14764357

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Re: Marx was right bs

Re: Marx was right bs

Marx was right bs