In this first part response debunking Mouth Infidel on the Labour Theory of Value I cover the difference between Adam Smith vs Karl Marx explaining why the Marxist is deeply and inherently flawed.
Mouthy Infidel doesn't even understand the La…
In this first part response debunking Mouth Infidel on the Labour Theory of Value I cover the difference between Adam Smith vs Karl Marx explaining why the Marxist is deeply and inherently flawed.
Mouthy Infidel doesn't even understand the Labour Theory of Value of Marx himself as he attempts to conflate the laws of supply and demand with Marxism saying that Marx accepted the laws of supply and demand. Furthermore, he attempts to state that price fixing has nothing to do with Marxism, whilst he may be accurate that by theory it aims for the moneyless based economy, this is still faced with the economic calculation problem.
Important to note, my definition of Marxism is of the real world of socialism, not theoretical fairy tale bed time stories of Marxist theory. Even if you go along with that argument, however, you can find my argument on the economic calculation problem in 2 parts:
Part 1: Profits and Losses — https://www.youtube.com/watch?v=mVbbFVKWdhI
Part 2: Variety of Options — https://www.youtube.com/watch?v=bFoqXD_o6Wc
As I have argued, the economic calculation problem isn't something that can be solved via technology, here is an example provided by Kevin D. Williamson in his book, 'The Politically Incorrect Guide to Socialism' that explains why:
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"Milk, imagine what it would take in terms of sheer information to run a socialist redistribution network for milk in the United States. Some people, such as vegans or the lactose intolerant consume no milk, but some households consume large quantities of the drink; those with many kids, those who use lots of milk products in their cooking, etc. Others may consume varying amounts; in July when it’s hot and humid, a family might prefer lemonade but it might consume a lot of milk in August if it’s whipping up a bunch of ice cream for a big family reunion.
"In addition to quantity calculations, there are various questions to answer to; whole milk or skimmed; 1 percen..
