#303 – Steve Keen: Marxism, Capitalism, and Economics
Lex Fridman Podcast
Understanding Value in Marxist Economics
This chapter examines the intricate relationship between buyers, sellers, and workers in a factory context through a Marxist lens, focusing on concepts of exchange value and use value. It critiques the traditional labor theory of value while integrating Marx's philosophical influences, highlighting tensions between treating labor as a commodity versus recognizing workers as individuals. The discussion encapsulates the complexities of Marx’s theories and their implications for the dynamics of capitalism and the evolution of economic thought.
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