Marx Contra Subjective Theories of Value.

A good quote that I’m surprised I haven’t seen to criticize the old chestnut that the labour theory of value was superseded by modern economic theories:

It must never be forgotten, that in capitalist production what matters is not theimmediate use value but the exchange value and, in particular, the expansion of surplus value. This is the driving motive of capitalist production, and it is a pretty conception that — in order to reason away the contradictions of capitalist production — abstracts from its very basis and depicts it as a production aiming at the direct satisfaction of the consumption of the producers. mecw 32 p126

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About HR

Deep in the adjunct crackhole.
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