: : The so-called Subjective Theory [which I shall subsequently call the theory of marginal utility] has absolutely nothing to say about the underlying essence of value...: THAT'S the most important part of your post...
Don: Nice cut-and-paste work, but the part you left out indicated that determining "the underlying essence of value" wasn't usefull in real word economics.
: : a) the TMU explains everything explained by the LTV, but in a superior fashion...
: No, the TMU minimizes exploitation in an effort to SANTIZE the process in which labor-power is sold to those who monopolize the means of production.
Don: In other words, TMU has no propaganda value for socialists and Marxists.
: : b) the TMU trancends the LTV by explaining more phenomena (i.e. it is more complete)...
: No, it brings our attention to the CONSUMPTION end of the commodity process in an effort to get us to forget that value is created during the PRODUCTION PROCESS where labor is exploited.
Don: The LTV has propaganda value, so we are going to stick with it . . .
