Karl Marx Explains the Labor Theory of Value

Bob Weick as Karl Marx in Iron Age Theatre's Marx in Soho b y Howard Zinn. Marx's complex ideas are reinterpreted by his wife Jenny. From a performance at the Capital Fringe in July 2007

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• Zinn
• Karl
• Marx
• Bob
• Weick
• soho
• Labor
• Theory
• Jenny
• Iron
• Age

[thewideninggyre]

@bapyou Isn't it funny how all these right wing loons just spout nonsense, refuse to back up their claims, and then when cornered, spew forth venomous hatred that reveals their inner selves?

[bapyou]

@warriorprince1010 "Castro has indeed stolen billions" Source this statement, you brainwashed dumb fuck.

"what people did before excuses nothing"

The torture & killings visited upon the Cuban people by the US-supported dictator Fulgenico Batista was nothing?

People starving for 6 months out of the year as American plantation owners reaped huge profits from sugar is nothing.

I expect nothing less from scum like you. Capitalism knows the price of everything & the value of nothing.

[randy95023]

@tedrovsky I read Marx in College 35 years ago, reread it in my 30's and reread it again in my late 40's. I agree with most of Marxian POV (Bourgeois exploiting the Proletariat, etc.). That said; A Socialist Economy has no way to find REAL prices. Soviet Union used to watch Western business journals to establish at least 'realistic' prices and insert them into their economy. No "free market", NO realistic prices. To find REAL prices you must turn to your enemies, "The Austrians"...

[tedrovsky]

@randy95023 I recommend you actually read Marx's own explanation in Capital Vol. 1, Ch. 1. Marx says that the value of a commodity is the amount of "socially necessary labor" expended to produce it. "Socially Necessary Labor" means the amount of labor necessary to produce a given amount of a commodity based on the average conditions of production, technology and skill in a given country at a given period of time. He goes to length to argue against the caricature you make it out to be

[randy95023]

I think I'll spend 5 hours painting a water color and put it up for sale at the local coffee shop and then I'll trade my "5 hour Labor Voucher" for a 5 hour Mechanic Bill for fixing my transmission, or maybe a 5 hour brain surgery for a sick child.

Hell, 5 hours of LABOR is worth 5 hours of LABOR, isn't it??

The "Labor Theory of Value" wouldn't pass muster in an Econ 101 class at the local community college...

[LodovicoAriosto1]

@joaquinveyron and if you talk about secret police, it is a known fact that the US government is currently wiretapping hundreds of thousand people, millions are on the list of potential threat to national security and according to the US laws, the gov can arrest and detain in an occupied territory of Guantanamo, for an unlimited period of time, any person on the Earth, incl. US citizens. it is a breach of a single most important principle of democracy.

[LodovicoAriosto1]

@joaquinveyron But at least they killed millions at home, not abroad like the UK and the US have been doing.