Communist Economic Theory

There is none.


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13 responses to “Communist Economic Theory”

  1. Man Mountain Molehill Avatar
    Man Mountain Molehill

    They try. Karl Marx appropriated the labor theory of value from David Ricardo.

  2. captain*arizona Avatar
    captain*arizona

    hillary was hated so much they tried trump. capitalism was hated so much they tried communism/socialism. capitalists will sell us the rope to hang them with! you might want to think twice on who you sell the rope too! bismarck invented the social welfare state to protect the rich from revolutions. helping the poor was a by product. liberals turn poor people into middle class republicans. libertarian/conservatives turn poor people into communist guerrillas! if you disagree why did saint ronald reagan sign the first major gun control law in california?

  3. captain*arizona Avatar
    captain*arizona

    hillary was hated so much the people tried trump. capitalism was hated so much they tried communism. remember libertarian conservatives justice comes out of a barrel of a gun. bismarck invented the social welfare state to protect the rich from constant revolutions. helping the poor was a by product. if you disagree why did reagan sign the first major gun control law in california?

  4. Simon Avatar

    MMM,

    Without prices you can’t determine supply and demand.

    ===

    There is no equivalent statement in communism. Which is why China has gone to a “capitalist” system.

    *******

    Captain,

    You might want to read the linked article.

  5. Man Mountain Molehill Avatar
    Man Mountain Molehill

    The price of something is what people are willing to pay for it, it’s a subjective quality. Nothing has inherent value just by existing. wrt von Mises and Hayek.

    Labor theory fails drastically by not taking this into account. Imagine taking a piece of dogshit and kneading it for 12 hours a day, 7 days a week for 2 years, lots of labor and in the end it’s still dogshit. Who would want to pay anything to posses it? (Unless you’re Damien Hirst selling to the usual insane art collectors)

    Price measured in what kind of unit? Demonstrates the need for some sort of fungible and stable currency, otherwise it’s a meaningless quantity. I used to agree with the gold standard types, but all it really needs to be is something with a mutually agreed upon value, the value of currency is as subjective as any other commodity. Gold is rare and fungible, but is really has no inherent worth more than an other commodity. It’s just a useful industrial metal otherwise. Money could be pictures of dead presidents, cowrie shells, wampum, rai stones or strips of fawn skin for some historical examples.

    The currency will still need to be stable and predictable, not fiat paper. See Venezuela for an an example of lost stability. Or, as my Russian friend used to say “they pretend to pay us, and we pretend to work”.

  6. OregonGuy Avatar

    If you can find a copy, read Murray Wolfson’s “A Reappraisal of Marxian Economics,” (Columbia University Press, 1966.)

    A review of Wolfson, here:

    https://thecharnelhouse.org/wp-content/uploads/2017/01/paul-mattick-sr-review-of-a-reappraisal-of-marxian-economics-by-murray-wolfson-1967.pdf

    .

  7. Simon Avatar

    OG,

    There is no theory on how to allocate resources except “the bosses will know what to do”. After 100 years of doing it that way no one believes it.

    Hayek in his Nobel Lecture explains why.

    It was explained to me a long time ago by a South American Libertarian.

    Speaking of the ideal:

    In communism every one gets enough. In capitalism everyone gets what they want.

    Communism has no answer for getting what you want. Which is why there are Black Markets in Communist systems. And mass murder.

  8. Simon Avatar

    If the labor theory of value had any merit – digging holes and filling them in (with no other purpose) would make a society rich. Because labor has value.

  9. Man Mountain Molehill Avatar
    Man Mountain Molehill

    that was my plan for reviving the British coal industry, half the miners dig up the coal and the other half buries it again. Instant full employment for union werkerz. What could possibly go wrong?

  10. Simon Avatar

    We are at the bottom of a Kondratieff Wave. These stupidities always get stronger at such bottoms. Which are about 80 years apart.

    1850. 1930. 2010.

    Bottoms are “caused” by the INs (exploiters) holding back the OUTs. And they do it with politics.

    I estimate that the current bottom has about another 10 years to run.

    We see it with cannabis which would upset the current medical establishment. Greatly. Grow your own medicine would hurt Big Pharma. A lot.

  11. Man Mountain Molehill Avatar
    Man Mountain Molehill

    Are these Antifa and related types even communists? Marx and Lenin wrote a lot about economics. Didn’t have a clue what they were talking about, but at least they thought they had a theory. I doubt these modern crybabies could spell “economics”.

  12. Man Mountain Molehill Avatar
    Man Mountain Molehill

    How about the way communists have hijacked the language? I mean, people who are in fact radical Marxists, even Stalinists have attached the labels “liberal” and “progressive to themselves. What, pray tell, is the least bit liberal (means related to or about a free person) or progressive about it?

    Well, I can see corrupting “progressive” in some sense, imagine you are strapped into a chair, on a conveyor belt leading into an incinerator. Your motion towards a fiery death could be described as progress of a sort. Not what they want you to think it means, “progress” is all sweetness and light and warm puppies. Remember, freedom is slavery!!!

  13. captain*arizona Avatar
    captain*arizona

    communism failed as an economic system because it was actually worse then capitalism when at the time most people thought their wasn’t anything worse then capitalism. it is still true that the communist slogan :the capitalist will sell us the rope to hang them with! when global warming hits hard and the methane frozen at the bottom of the ocean bubbles up capitalist will be the first to have a date with a ditch.