Labor Theory of Value- questions?

I am remaking my labor theory of value video. I want your input.

my old video, which I detest:
http://kapitalism101.wordpress.com/the-labor-theory-of-value/

If you want to leave a longer response, try my wordpress blog:
http://kapitalism101.wordpress.com/2009/12/05/questions-regarding-the-labor-t...

Category:

Education

Tags:

• marx
• capital
• labor
• theory
• of
• value
• exploitation
• profit
• use
• exchange
• economics

[tatamtatam1]

based on my experience the question that people only superficially acquainted with the LTV most often raise is: "why is it only human labour that can create surplus value/new value? if an animal or a machine creates a surplus product, why isn't that surplus value as well?"

I think you should answer this question, pointing out that it's not some kind of magical physical property that makes human labour a "special" input (the point being that value is not a physical property at all...) etc. thanks

[68generation]

Hey Brendan I am very interested in your new programme, but I think you actually explain Marx pretty well. Never mind people who are just defeatists and not constructive in criticizing.

[hep48]

@PolemicalCommentary Nope, labor can produce a lot without capital. Our own bodies are our first machines, but being external to our labor nor representing labor in a congealed form, they are not 'capital'. We built our first tools. The tools didn't first start to build us.

[hep48]

@MrEverpresent wow how condescending. do you expect ever to be listened to? not being condescending - now there's a good place to start. If you actually understood dialectics, by the way, you'd understand that one can explain the labor theory of value which is premised upon the use of evolutionary i.e dialectical logic, also called process logic, and developed later into semiotics etc WITHOUT 'using' the word 'dialectical'. That's for the marxist religions, to use the word for the sake of it

[hep48]

@gunsandbullhorns There's no dispute that a given thing can have different utilities or use values to different people. That matter is fairly subjective, but reality doesn't end in subjectivity of the margins. Its in the total of social exchanges that the exchange value is derived. A closer approximation is average price index. Another better approximation is to compute the total cost to replace all past produced existing production capacity and all goods based on present, not past, capacity.

[breakloose999]

Please put the original back up, it was useful in its own right!

[seigneurvoland666]

Do you believe in the subjective theory of value but also subscribe to a basis of value? Ie LTV? If it's so obvious why do academics often reject it (the austrians). What is the knitty gritty disagreement here

[natedaug1]

I just want to know what labor theory of value is and some of the objections to it. Thanks.

[binhthanhvo]

Whatever you do, just make sure the topics are addressed in order. I know this sounds obvious, but it's really important to go through the ABCs before you get to LMNOP, so to speak, especially on a topic that can be confusing and even intimidating to people. For me, the labor theory of value starts with understanding how human labor is the source of all new value.

[tuberesponder]

Subjective theory of value

Is a cup of clean cool drinkable water more valuable to a dehydrating person in the desert, or a person drowning in the ocean?

Labor, a factor of production, a Factor and a POTENTIAL factor of valuation, is not the source of valuation. the source of "value" is the evaluator.

The Subjective evaluator uses their assessments of known information, priorities, and expectations to rank importance of goods, services, and conditions.

[MrEverpresent]

@gunsandbullhorns

You should not compare the abalone diver with the interaction in a capitalist society. The labor theory of value is only valid in the capitalist mode of production. Hence the need to understand the whole of this mode of production. You should know by now that one cannot understand the labor theory of value without the notions of a generalized exchange, the roles of buyer and seller, the exploitative relation between the roles of capitalist and worker, the money form...

[gunsandbullhorns]

Be sure and address the following criticism:

"The abalone diver dives for abalone BECAUSE it is valuable to him — the abalone does not become valuable just because the abalone diver dives for it."