this post was submitted on 15 Jul 2024
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Labor isn't the source of value. Labor is the source of the whole product, which is what has value, of the firm. Labor is de facto responsible for what is created in production. The employing class is quite literally stealing from workers through their appropriation of the property rights to the produced outputs and the liabilities for the used-up inputs, which together make up the whole product . This appropriation implies a mismatch between legal and de facto responsibility @whitepeopletwitter
https://en.wikipedia.org/wiki/Labor_theory_of_value
https://en.wikipedia.org/wiki/Subjective_theory_of_value
I'm familiar. What I am saying is that the subjective theory of value is correct, but that doesn't mean some sort of labor theory doesn't hold. The labor theory of property (LTP) holds. Think Proudhon and the classical laborists and less Marx @whitepeopletwitter