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The Labor Theory of Value Rides Again!

Revolution on the Left writes:

[Marginal utility] is untestable. That's really all you have to say.

That's it. Marxism is testable. The centralization of capital is observed. Not just observable, but observed.

The labor theory of value was empirically proven before Marx by Ricardo. It is to this day confirmed in fields like Industrial Engineering where the various planning programs utilize labor as the primary variable to determining costs.

To this day, in practice, no Industrial Engineer utilizes marginal utility. Only weird marketing groups and right-wing economic theorists use that.

And again, it is untestable. In science or any empirical study in our modern era any untestable theory is basically mysticism.

Honestly, this is the stupidest quotation I've run across on any economics forum. All real economists of every school know that Menger refuted the labor theory of value in 1871. Do I really have to dig up that mouldering corpse and stick another knife in it's skeletal ribs?

All this talk of "testable" and "observed" is just standard post-autistic claptrap. They throw all logic over board and then try to dazzle us with a bunch of made-up statistics. Anybody who is not dazzled is denounced as "autistic."

Revolution on the Left writes:

I think mathematics drives some people crazy. They can't handle it. Some can handle more than others, and they thus don't get totally crazy until the end of their life (Pythagoras, Godel, etc.).

Like what this guy is doing.