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/biz/ - Business & Finance

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54787953 No.54787953 [Reply] [Original]

What are your opinions on socially necessary labor time? Is it a decent theory of value?
>The simplest definition of socially necessary labour time is the amount of labour time performed by a worker of average skill and productivity, working with tools of the average productive potential, to produce a given commodity. This is an "average unit labour-cost", measured in working hours.
>If the average productivity is that of a worker who produces a commodity in one hour, while a less skilled worker produces the same commodity in four hours, then in these four hours the less skilled worker will have only contributed one hour's worth of value in terms of socially necessary labour time. Each hour worked by the unskilled worker will only produce a quarter of the social value produced by the average worker.

>> No.54787978

We're watching his theory unfold in real time. Capitalism will become socialism out of necessity when technology makes most jobs obsolete...

>> No.54788012

>>54787978
Why do you think the capitalists will be eager to share their wealth? They'll just all go to Hong Kong

>> No.54788021

>>54788012
It'll be worldwide.

>> No.54788166

>>54788012
What's the alternative? Mass starvation, riots, slums? You really think humans are going to let economics justify their genocide?

Money is just a number, ownership is just a name on some paper.

>> No.54788284

>>54787978
People just need to save, no inflation, and be paid the right amount. Some people of your kind will end up badly

>> No.54788315
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54788315

>>54788284
Nope
>Some people of your kind will end up badly
As long as my parents property remains in their name they'll be fine and my position will get solidified for the rest of the foreseeable future without me lifting a finger.

>> No.54788353

>>54787978
people are very bad at predicting the future
you, just like Marx in his time, are not exceptions to this rule

>> No.54788396

>>54788166
barbarianism

>> No.54788402

>>54788353
https://edition.cnn.com/2023/03/29/tech/chatgpt-ai-automation-jobs-impact-intl-hnk/index.html
I personally can't think of jobs that won't be automated by either ai or robots and we'll start seeing robots in the market this decade I believe.

>> No.54788467

>>54788315
Nope what? Everything I've said is true and people pretending the contrary are exponentially identified, and screwed because people get it now

>> No.54788482

>>54788467
If you people can't get a job it doesn't matter what the currency is

>> No.54788501

>>54788402
I have to be careful pointing this out on a board that is entirely industrial sewage runoff from /pol/ but in the span of human history technological advancements typically (as in they never don't) bring more prosperity rather than less
very semitic thinking, I know, can't help it tho

>> No.54788518

>>54788501
Just like bitcoin won't get past it's previous ath neither will technology that can perform labor

>> No.54788520

>>54788482
People will just work less and less until basic needs are basically free, but that time is still far away, so people need to work and save

>> No.54788746

>>54788520
Again, why would the people who own the means of production give away shit for free?

>> No.54788752

>>54788746
Because if people don't have money to buy products the economy will collapse.

>> No.54788779

>>54788752
It will only collapse for those who don't have value or money.

>> No.54788784

>>54787953
Value is subjective.

>> No.54788820

>>54788746
>>54788752
Where did I say that businesses will give free things? I've said work time will lower and people will organize a bit differently. The business will always have to pay workers. Knowing how to read helps.