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To: G. Stolyarov II

I think your arguments might help persuade a dedicated Marxist, if he had any rationality, which is somewhat in doubt.

I first ran into the Labor Theory of Value in my freshman year in college, and I must confess I could instantly see that it was ridiculous on its face. I couldn't see how an intelligent person could credit it even for a minute, and I still can't.

Like it or not, it's the market that determines value. That is, what people are willing to pay for something.

Workers should earn an honest day's wages for an honest day's work, but it's futile to imagine that that means any kind of work, no matter how misguided.

There are exceptions, but only those freely agreed to. Thus I have sometimes paid people by the hour and for materials when they do work around the house. But we have to agree on the rate, and agree that the work is being done in reasonable fashion. But you can't price an automobile on what it cost for overstuffed union workers to build it. You have to sell it for what people are willing to pay for it. Or you will eventually go broke. Or suck in the whole state, and drive it broke, too.


10 posted on 12/30/2006 6:34:02 PM PST by Cicero (Marcus Tullius)
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To: Cicero

Thank you very much for your insightful comments and examples. I agree entirely and appreciate your readership.

I am
G. Stolyarov II
http://rationalargumentator.com


12 posted on 12/30/2006 6:48:42 PM PST by G. Stolyarov II (http://rationalargumentator.com)
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