People would be right to doubt this framing without experimental evidence of prices best correlating with labor time. However, Paul Cockshott has thankfully done the work for us and demonstrated empirically that there’s no solid foundation to the law of supply and demand explaining prices except for fast fluctuations, and the baseline of prices being determined by labour theory of value.
People would be right to doubt this framing without experimental evidence of prices best correlating with labor time. However, Paul Cockshott has thankfully done the work for us and demonstrated empirically that there’s no solid foundation to the law of supply and demand explaining prices except for fast fluctuations, and the baseline of prices being determined by labour theory of value.
Seriously, watch Cockshott’s videos on the topic
Link?
https://www.youtube.com/watch?v=emnYMfjYh1Q
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy: