Law of Value 8: Subject/Object 2 of 4

This video delves into the debate over whether economic value is "objective" or "subjective", taking the position that this dichotomy is too simplistic to capture the phenomenon Marx was explaining in his theory of value. For full text and plenty of room for long comments and discussion go to:
http://kapitalism101.wordpress.com/2011/11/15/law-of-value-8-subjectobject

Category:

Education

Tags:

• marx
• ltv
• stv
• labor theory of value
• value
• subjective
• objective
• bohm-bawerk
• mises
• capital
• wage
• exploitation
• preference
• OWS
• occupy
• abstraction
• economics
• politics

[GuttahMastah]

So...does that just mean you are a non-doctraine leftist? You support Marxism, right?

[brendanmcooney]

@GuttahMastah Yes I am a Marxist.

[GuttahMastah]

What tendency are you, brendan? I am a Marxist-Leninist and I love your videos.

[brendanmcooney]

@GuttahMastah. I don't have a tendency.

[brendanmcooney]

@InvincibleNumanist The point was that out "priorities" are entirely produced by the mode of production and can't be understood without them. The field of "economics" has avoided such problems by consistently re-defining economics in order to leave out all of these other issues.

[brendanmcooney]

@myztic123. You could at least finish watching the videos or reading the script on my wordpress blog and acquainting yourself with some of the critiques of marginal utility theory so as to form a better understanding of it.

[egalitarian2021]

Mr. Brendan great job on the videos.

[myztic123]

@brendanmcooney Alright i'll put them in my to-watch playlist and will watch it to broaden my horizon.

[myztic123]

@brendanmcooney I thought about answering on specific parts of your video and then we'd start a discussion and maybe after several back-and-forth answers one could say "I am right!". But most likely we would just stop discussing at some point. I cannot convince you and you cannot convince me, so why bother at all.

[brendanmcooney]

@myztic123. I don't understand your question. This video contains a critique of marginal utility theory, not an endorsement of it. what 'factual" arguments are you looking for?

[myztic123]

I have seen the first part and the first 3 minutes of this part and i'm not really sure if you prefer the austrian economists theory, because you explain them so detailed or are trying to make a point against it.

You mention one point of the austrian perspective, then formulate a critical question and go on to describe the austrian view on that topic. Are you giving factual arguments in the later videos, then i'll watch them.