Is Marxism old-fashioned? - Page 3 - Politics Forum.org | PoFo

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#15184476
ckaihatsu wrote:Your formula is bullshit because it compares apples-and-oranges -- you can't determine Va, the exchange value, when the inputs are not even *in terms of* exchange value. The inputs are either timespans (labor time, period of production), or else is a *ratio*, the rate of profit -- which is a *relativistic* term.


It is not MY formula; it is a well-known formula. But is it bullshit? Certainly not. And, the explanation, you give it yourself. The labour theory of value tells us that values of two goods are in a ratio as the one between their labour times. The "bullshit formula" adds: true if you multiply the labour times by a factor representing the contribution of capital
#15184501
Monti wrote:
It is not MY formula; it is a well-known formula. But is it bullshit? Certainly not. And, the explanation, you give it yourself. The labour theory of value tells us that values of two goods are in a ratio as the one between their labour times. The "bullshit formula" adds: true if you multiply the labour times by a factor representing the contribution of capital



Would you mind providing an *example*, then -- ? Thanks.

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