- Capitalism and Alternatives -
Doc confuses himself first, then others who try to get through his posts
Posted by: Stoller on December 02, 1999 at 22:03:58:
In Reply to: The Market invalidates the LTV. posted by Dr. Cruel on December 02, 1999 at 10:50:29:
: In point of fact, value is determined by what one will exchange for a commodity, contentions to the contrary are empirically incorrect, and neither theory practically settles the ethical quandry of ownership, which seems to be more a matter of cultural convention leavened in regards to the distribution of coersive power within that social order.
Nice run-on sentence there, Doc.
Value CANNOT be 'determined by what one will exchange for a commodity' because this determination is made by the EMPLOYER (who determines the wage) not the employee---and so we return ONCE AGAIN to the production process to reveal where value is ACTUALLY produced.
The 'customer decides value' theory went splat here.