Mfw not all communists are unaware of the economics of capitalism. Mfw Karl Marx, a communist and economist, states in Value, Price and Profit that "The value of a commodity is determined by the total quantity of labour contained in it," not supply and demand as this post suggests, and, furthermore, that "Supply and demand regulate nothing but the temporary fluctuations of market prices. They will explain to you why the market price of a commodity rises above or sinks below its value, but they can never account for the value itself," thus making this post inaccurate, and consequently ironic actually, when it claims to know how the value of commodities are determined but proceeds to depict supply and demand, which only determine market prices.
You are viewing a single comment's thread from: