Why Marx's Exploitation Theory Is Wrong (Joseph Salerno explains Böhm-Bawerk)

You can see the full lecture here: http://youtu.be/5WeD_c1py2A

Introduction to Austrian economics video series: http://vforvoluntary.com/austrian-economics

http://en.wikipedia.org/wiki/Eugen_von_B%C3%B6hm-Bawerk

http://www.mises.org/

LUDWIG VON MISES INSTITUTE - CREATIVE COMMONS ATTRIBUTION 3.0

Category:

Education

Tags:

• marx
• exploitation
• bohm
• bawerk
• joseph
• salerno
• mises
• institute
• capitalism

[truevoice08]

Salerno is a giant in the field of economics. He would crush top leftist and keynesian intellectuals of today

[batmanthe]

@AnarchoHumanist Where is the transgression? There is no such thing as a "theft from society" there is only a theft from owners; people who have acquired through labor and agreements etc. People don't by default communally own anything, this is a completely erroneous arbitrary concept. I've seen communists call individually owning land arbitrary. But this is certainly far, far less arbitrary then asserting that humanity communally owns the land or the product of everybody's labor.

[MrBigEnchilada]

@batmanthe one problem of the idea of acquiring property through labor is if a company like coca cola claims a water source in order to make its drinks or a factory uses it in order to produce goods and does not account for the costs or the fact that they now claim those resources are theirs.

[57worldwide]

@kaushiksays Land cannot be infinitely intensively farmed without fertilisers. It cannot hold a factory without maintenance on the factory. The only thing it can do infinitely is be land, which is scarce in some areas. This is different to infinitely reproducible, non scarce goods (digital information).

Not to mention the fact that 'infinitely used' can't be over a period of time (as that conflicts with the definition of 'infinite').

[wingedknight]

The Bank of CANADA GIVES ITS PEOPLE 0 % INTEREST 

[kaushiksays]

@batmanthe On a short timescale it may seem that everything today has been privately owned but these have been recent transitions. If you try to study the Irequois Indian lifestyle which was without a state, parts of them which migrated to Greece and their transition to roman and eventually athenian state aroused the need for private property. I'd highly recommend "The Origin of Family, Private Property and the State", it is available online as well.

[kaushiksays]

@batmanthe So called "uncoerced contracts" are just good on paper for legal purpose. The power positions and economic needs is none of law's concern. It does not ensure any rights or equal footing. Land can be infinitely used over a period of time for it's multitude of utility value.

[batmanthe]

I should clarify two-way or more..

[batmanthe]

@kaushiksays Taking my real physical property for the sake of a infinitely reproducible good seems like bad principle. 2-way uncoerced contracts are a different matter if I join a contract that specifies terms on what will happen if I break that contract by spilling company secrets etc then that should be enforced. Now if I click OK on some companies silly "agreement" I have not "agreed" to a two-way contract. In libertarian legal theory all contracts must be two-way.

[batmanthe]

@kaushiksays On some level I'm not for people downloading things with no intentions (even if they enjoy it) of supporting a maker who wants compensation. But I'm against IP enforcement (fraud=different subject) for a number of principles #1 The freedom to use real property the way I see fit (scarce goods) takes full priority over infinitely reproducible non-scarce goods. e.g. it's my hard drive I am free to configure it's 0s and 1s.

[kaushiksays]

@batmanthe How about ideas...aka intellectual property ? They are a social relation and built upon already existing ideas just like real property.

[HeyItzMeDawg]

@MrBigEnchilada A leverage effect, in the sense that the regular investors tend to follow the leads of the majority of speculators, is inevitable. The good news is it seems pretty hard to stay a speculator if you're not a successful and competent one.

The bad news is that there are social and political factors at work such that economic tendencies do not offset the political or social tendencies.