Muranpaadu

Category: Economics

  • Air, Water, Gold, Aluminium, Silver, Diamonds, and AI: LTV

    Air, Water, Gold, Aluminium, Silver, Diamonds, and AI: LTV

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    by

    kokki_boys
    in , ,

    Air, Water, Gold, Aluminium, Silver, Diamonds, and AI: LTV In a commodity-producing society, value does not arise from the intrinsic properties of things, nor from their scarcity, nor from their usefulness. Value is determined solely by the socially necessary labour time (SNLT) required to produce or reproduce a commodity under normal conditions of production. Shifts…

  • Labour Theory of Value

    Labour Theory of Value

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    by

    kokki_boys
    in ,

    Disclaimer & Introduction The following notes represent my current understanding of Karl Marx’s value theory, compiled from my readings of Capital and related texts. PART I — THE LAW OF VALUE AND THE DYNAMICS OF CAPITALIST PRODUCTION Chapter 1. The Fundamental Law of Value Chapter 2. Social Value and Individual Value Chapter 3. The Consequences of Inefficiency Chapter 4.…

  • Financially Rational but Productively Irrational

    Financially Rational but Productively Irrational

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    by

    kokki_boys
    in ,

    How Unequal Credit Distorts Competitive Survival Banks and other financial institutions—indeed, lenders in general—lend cheaply to large capital and expensively to small capital. From the standpoint of finance, this is rational: large borrowers appear safer, small borrowers riskier. But once this financial logic enters production and competition, it produces outcomes that are irrational for productive…