this post was submitted on 21 Sep 2023
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Socialism

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[–] rockSlayer@lemmy.world 2 points 1 year ago

All theories of value are lacking in one way or another, but you're definitely in the wrong community if you fundamentally disagree with the labor theory of value. Intrinsically, an item has value based on demand and usefulness. However, no items exist without labor. The value of an item is disconnected from the wage exchanged to create it, and this theft of value is what we call "profit".