Labor Theory of Value

It is astounding how those that claim the LTV does not hold, end up admitting they dont understand the theory as this video demonstrates

https://www.youtube.com/watch?v=X4PZWPab2Vo

Anybody with the name Angstreich does not inspire my desire to investigate.

thats such a dopey response

The set is very long, and very very difficult to follow. I tried but I really don’t have time for it.

Google translation of a French text:

The value of a good depends on the quantity of work which is directly or indirectly built-in there. The current economic system, known as capitalist, is founded on the private appropriation of the capital, i.e. the means of production. An employee contributes to the production of goods and services. He yields his labour force to the capitalist and this one uses it to produce goods and services. Part of the goods and services produced are sold to ensure his remuneration. The surplus, once deduced first, the cost of the materials, of external services, investments, etc constitutes the added value that the owner of the means of production keeps for himself.

In fact, the labour force of the employee is used to produce a quantity of goods and services higher than the value of that force, equal to its cost of reproduction.

The capitalist system is thus founded on the exploitation of the man by the man, i.e. by the appropriation by the capitalists of the labour force of the employees. The capitalist system is condemned to extend and include all planet, to destroy the other modes of production and to incorporate in the commercial sphere the whole of the human relations. (Badly not seen in 1850). As it can survive only while extending, it is condemned to decay during the day when it will not be able to grow any more.

 

 

 

you dont have time then you dont have time. Found the time during my walk around the block. Very Enjoyable. Also in the background during my gym session at home