NaturalsNotInIt [any]

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Joined 3 years ago
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Cake day: April 29th, 2021

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  • The Post-Keynesian arguments are the same dreck as earlier Keynesians, namely that the market allocates resources based on “marginal utility” or “preference”. These people live in a fantasy land where the market magically determines the value of all products, sets the price accordingly, and there’s an omnipotent force (the State/central bank) who is supposed to step in if Mr. Market isn’t doing his self-care and keeping up with therapy.

    As TankieTanuki said, these criticisms ultimately get back to the idea that price is value, which is something that Marxists fundamentally disagree with (fwiw, stock market gurus like Warren Buffett are on the same side as Marx, “value investing” requires price/value mismatches on a fundamental level!).

    The ecological economics theory from Wiki sounds like some ecofash b.s. on first read. “Labor doesn’t create value because labor takes energy to produce” - no shit, that’s the “v” part of the “c+v+s”. “Cultural differences can change the use-value of goods” - yes to some extent, but this sounds an awful lot like “those primitive people don’t value those resources”.