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RE: Concentration of Wealth and Power Under Capitalism

in #economics7 years ago (edited)

:This is a profound misunderstanding of what the free market is about. Profit is the difference between how much it costs to create a service or product compared with how much someone is willing to pay for it.:

you didn't read any of the links did you? The only thing that adds value to an object is human labor (because that is the only thing necessary to produce any object, even the tools and materials to produce the object were acquired through it. The value is what it takes to produce, not what you can sell it for.

It doesn't matter what people are willing to pay, we can just produce more. It's not that fucking hard to understand. We let 20 million die a year of poverty just because we can't make a profit off of them. We produce more food than is needed for all of humanity to survive, but millions still starve to death.

The one with the profound misunderstanding is you.

https://www.marxists.org/archive/marx/works/1847/wage-labour/

I'm not going to explain myself a third time, just read the post next time.