Hi all,

I’m seeing a lot of hate for capitalism here, and I’m wondering why that is and what the rationale behind it is. I’m pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.

If this isn’t the right forum for a political/economic discussion-- I’m happy to take this somewhere else.

Cheers!

  • J Lou@mastodon.social
    1·
    1 year ago

    The anti-capitalist tradition I am speaking from is descended from Proudhon and other classical laborists not Marx. I reject the labor theory of value.

    The difference from capitalism is that legal system recognizes the employer-employee contract as invalid, and thus all businesses are required to be worker coops. I am fine with calling it capitalism if necessary, but many defenders of capitalism would not consider it to be so

      • J Lou@mastodon.social
        1·
        1 year ago

        Marginal productivity theory is a better analysis. I don’t approve of the ideological way economists present it though.

        There is a need for a labor theory to recognize flaws in capitalism, but the labor theory that is needed is one of property (LTP) not of value after all capitalism is a property system. LTV is insufficiently decisive in its critique. At best, it says that workers are underpaid. LTP, on the other hand, demonstrates that workers legally own 0% of what they produce