Hi, this is called “Labour Theory Of Value”. And this is imo a popular theory of value creation a lot of people believe in and it has populist memetic value.

But Labour Theory Of Value has been debunked and is mostly not used anymore.

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mystraline 8 hours ago | parent [-]

"It is difficult to get a man to understand something when his salary depends upon his not understanding it"

- Upton Sinclair

And, well, you are right that there are 'debunkments' of Labor Theory of Value. Of course, they are put out by hard right-wing laissez faire capitalist enclaves, like Mises. I would never expect them to take a dispassionate view of capitalism, given their extremist position.

https://mises.org/mises-wire/three-arguments-debunking-marxs...

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simianwords 7 hours ago | parent [-]

I asked ChatGPT this:

"who is the single one contemporary person who took labour theory of value seriously in an academic sense?"

ChatGPT: G.E Cohen.

(G.E Cohen is an Analytical Marxist BTW)

Here's what G.E Cohen has to say specifically on LTV:

1. "labour theory is, moreover, false" [1]

2. "The labour theory of value is not a suitable basis for the charge of exploitation laid against capitalism by Marxists, and the real foundation of that charge is something much simpler which, for reasons to be stated, is widely confused with the labour theory of value." [2]

[1] https://andrewmbailey.com/money/readings/cohen

[2] https://www.versobooks.com/blogs/news/3128-the-labour-theory...

So here you have the one guy who took this flawed concept seriously, * from the side of Marxism * and then has to conclude that it is false.

	▲	mystraline 6 hours ago \| parent [-]
		Wait a sec. You want me to trust the output of a hypercapitalistic slop machine whose owner bulk pirated most of the western knowlege for money. And he wants to scan the eyeballs of everyone for his shitcoin (and kicked out of multiple countries for abuses). And, you expect me to read that slop drivel? Fuck, no. I had the decency to use my own words. You can too. And, "Don't post generated text or AI-edited text. HN is for conversation between humans." I do not care about your propaganda clanker.