- 08 Aug 2021 08:29
#15184476
It is not MY formula; it is a well-known formula. But is it bullshit? Certainly not. And, the explanation, you give it yourself. The labour theory of value tells us that values of two goods are in a ratio as the one between their labour times. The "bullshit formula" adds: true if you multiply the labour times by a factor representing the contribution of capital
ckaihatsu wrote:Your formula is bullshit because it compares apples-and-oranges -- you can't determine Va, the exchange value, when the inputs are not even *in terms of* exchange value. The inputs are either timespans (labor time, period of production), or else is a *ratio*, the rate of profit -- which is a *relativistic* term.
It is not MY formula; it is a well-known formula. But is it bullshit? Certainly not. And, the explanation, you give it yourself. The labour theory of value tells us that values of two goods are in a ratio as the one between their labour times. The "bullshit formula" adds: true if you multiply the labour times by a factor representing the contribution of capital
Paul Jael