Tehon
Gold Member
- Jun 19, 2015
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Apparently I have a different working definition of socialism than every other participant in this thread.The price of a commodity is determined in the market. Is it not? The cost of producing a commodity would likewise be determined in the market since labor is also a commodity.You admitted that the term simply means the labor cost of an item, which didn't determine the price.
It's the accumulated labor hours required to produce a commodity. Surely you can agree that it takes time and labor to improve upon nature. That is something all commodities have in common irrespective of cost.You failed utterly to demonstrate that the term "intrinsic value" means anything.
There isn't one.You also failed to demonstrate there is any connection between labor cost and "intrinsic value.
The cost of a commodity is determined by the market the commodity it is being sold in. So, if you have a completely competitive economy, which in the real world is pretty much non existent, then you get the agreement between many sellers and many buyers negotiating a price.
Add monopoly power, which is normal in any economy today, and you get an additional part of price determination. And as such, things get more expensive, based solely on monopoly power.
A good deal of socialism today is devoted to trying to mediate monopoly power.
So, while actual socialism does exist, the opposite end of the spectrum does not. Pure capitalism is a theory. Same thing as a Libertarian economy. No social, or government, component. But it never, ever works. There is no successful libertarian economy, and there is no purely socialistic, or communist economies. All we have are economies with some degree of capitalist and socialist mix. Except for a couple questionable communist economies which have not yet fully failed.
So, get over the idea that the only rational economy is one that is fully capitalistic, or LIBERTARIAN. They do not exist. The argument is how much socialism is best.
Anyway, thank you for confirming my statement.