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Do Communists Understand Money? Marxism and the Economics of Value w/ Colin Drumm and Acid Horizon
Acid Horizon
The Labour Commended Theory of Value
I got sent down this rabbit hole because I was beefing with William Claire Roberts on Twitter about what capital by Karl Marx says and doesn't say. So I've gone back to William Petty, who's a thinker maybe many people don't know as much about. The story is that he is the originator of this labour theory of value. As it turns out, he's not. He actually thinks he's being totally misread in that Petty has what most people think is a later theory, which is return on capital. This is actually the argument that Petty is making, not a labour theory ofvalue. There are two very different ideas of the labour value concept that are intention in Smith
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