A Category-Mistake in the Classical Labour Theory of Value - eviltoast
  • theluddite@lemmy.ml
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    11 months ago

    This seems like a good read. Bookmarked after a skim.

    I’m currently reading “How Labor Powers the Global Economy,” and after skimming the OP, this seems like exactly what HLPtGE set out to address. It’s a very, very compelling reformulation of capitalist economics and the LTV that embraces the inherent chaos of prices without hand-waving them away, like most economists of all persuasions, including Marxists, do today. Its a model that borrows a lot of techniques from statistical mechanics and other physical sciences, so much so that people have started calling the approach “econophysics.”