What will end up happening to Greece?

Mar 2011
746
160
Rhondda, Cymru
Something you are allergic to can absolutely still be food. It just shows that everyone won't place value on it. Take another example- different people like different foods- some value it more than others, some might hate how it tastes and won't eat it. There is no inherent value, it is subjective.

The labor theory of value has long been discredited- there are a couple of valid points in it, but the rest just aren't including the main premise. On socially necessary labor time- at the end of the day the consumer or whoever values an object because of what it is to them, not because of the labor put in, even if it is deemed socially necessary (which in itself is a vague and arguably subjective term). In other words, even the value of the socially necessary labor is subjective.

Food is what you need to keep you alive, and if you can't eat it it isn't food. If you are in a seige you will give up all your gold and paper for a plump rat. That is very basic use-value. The classical economists took the labour theory of value for granted when it came to less immediate values than that, and it was only when its implications (the capitalists steal surplus value) became evident that later ones slithered away from it into far less defensible value systems surely.
 
Aug 2011
3
0
dub wheels

The classical economists took the labour theory of value for granted when it came to less immediate values than that, and it was only when its implications (the capitalists steal surplus value) became evident that later ones slithered away from it into far less defensible value systems surely.
 
Aug 2011
3
0
They are the same cake- the customer doesn't care who spent how much time to make it- he will pay the same amount for either cake. The labor put into it doesn't matter.
 
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