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[OPE-L:5602] Re: Ockam's Razor

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Paul Cockshott wrote:
>
An attraction of the labour theory of value to socialists from
Owen onwards is that it provides an alternative way to perform
economic calculation without recourse to money, that 'power to
command others'.
<
(OPE-5589)

Closely related to this attraction is exposure of capital's
inhuman distortions. For example, under the profit motive capital
perpetuates stupefying labor that a machine is ready to perform.
The reason is that capital decides whether to make the
replacement by comparing the full cost of the machine to the
discounted cost of workers. This way of stating the matter is
loose; details of the calculation, considering such complications
as prices of production, are in my book From Capitalism to
Equality. As fas as I can see, this insight can be established
only with a labor theory of value having a quantitative aspect.

Charles Andrews
Web site for my book is at http://www.LaborRepublic.org
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