BlogHide Resteemsunknowntoall (25)in marx • 6 years agoThe labour theory of value is absurdThis is a simplified Bohm Bawerk argument “The value of one commodity is to the value of any other, as the labour time necessary for the production of the one is to that necessary for the…unknowntoall (25)in marxism • 6 years agoAre workers exploited?There are two types of profit: Entrepreneurial profit, the reward for coming up with new ideas and taking risks implementing them, I don't think anyone thinks this type of profit is exploitation.…unknowntoall (25)in economics • 6 years agoThe diamond and water paradox and the law of diminishing marginal utilityWater is more useful than diamonds so why are diamonds more expensive than water? Surely people would pay more for diamonds than water. This is the diamond and water paradox and I will attempt to…
