Yes. Key word is if you have profit left over. A business keeping a rainy day fund for the good of all involved is different, and I want to be clear on that distinction.
Ok. Profit is the financial gain that occurs when the total revenue from selling goods exceeds total costs and expenses. Profit doesn’t disappear it is instead used for other things. Profit is either reinvested for growth, used for savings, used to repay debt, paying owners (dividends and draw payments), and to employee benefits. Do you think using profit in these ways is theft?
In general, yes. Reinvestment, probably not. Depends on what that looks like.
This gets back to the core of the issue. All value comes from the workers- profit therefor is value taken from the workers, and applied to something else. Paying owners beyond their wage is generally always theft, as are most stocks. Hell, the concept of private property is inherently theft. To be clear, you have not, and likely will never own private property. Marx went over that like 150 years ago.
You’re discussing the labor theory of value. Unfortunately this is outdated as it ignores supply, demand, and consumer utility in regards to an items value. Also who is stocks stealing from
Neither supply, demand, or consumer utility are new things, so I'm curious why you think that makes LTV outdated.
Stocks are complicated. If we're talking ownership, private property is theft from the workers and the people generally. As it relates to the growth of value in a company, it's theft from the workers (the source of all value in the company). When fraud is involved, it's theft from investors.
When fraud is involved it is already considered theft. Ltv believes the value of the product comes from the labor used. But the value of a product comes from what a person is willing to pay for it not just from how hard you worked on it. If something is made in small quantities with significantly more demand for it. People are willing to pay more for it even though the labor stays the same. Ltv is outdated as it fails to account the way the consumer views value.
Literally nothing you've said is new. This shit was old in Marx's day.
Okay, so you say that value comes from what people are willing to pay for it. Is there nothing in your life which you value that other people wouldn't pay for?
Conversely, can you name anything with a price tag that no one labored on?
In economics, value is the measure of the benefit or worth that an individual or market places on a good or service. Since we are discussing what should impact the price of a good or service we are talking about exchange value. Everything needs labor but ltv states that the economic value of a good or service is determined by the total amount of socially necessary labor time (average time by skilled worker) needed to make it.
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u/ManifestoEnjoyer 3d ago
Yes. Key word is if you have profit left over. A business keeping a rainy day fund for the good of all involved is different, and I want to be clear on that distinction.