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twoodfin 2 days ago

Ah, the labor theory of value. That makes sense.

It’s totally incoherent and unreliable as an explanation for an economy, but it explains the comments in this thread.

inigyou 2 days ago | parent [-]

Did you reply to the wrong comment by mistake?

twoodfin a day ago | parent [-]

What would that $500 not being “extracted from the value chain” look like?

inigyou a day ago | parent [-]

It would either be passed along the chain or it would not enter the chain.

twoodfin a day ago | parent [-]

Seriously, what does “passed along the chain” look like in your example?

inigyou 21 hours ago | parent [-]

Given to the people who create the value.

	▲	twoodfin 21 hours ago \| parent [-]
		How is that distinct from the labor theory of value? In your model, who’s creating the value other than the labor?