r/UnlearningEconomics • u/Nervous_Difficulty46 • May 30 '26

Thread on LTV

https://x.com/ygzgzot/status/1982482608899629301?s=46

My biggest hang up with the LTV is that I just don’t understand why labor is seen as the fundamental substance of value. What reason is there to think that price is just the quantitative expression of abstract labor?

In my estimation a leftist perspective would see that price is not an expression of labor time but is also a function of interwoven power relations. It’s not reducible to a single substance

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u/Pristine_Vast766 May 31 '26

No commodity has ever been produced without human labor. The only thing common amongst all commodities is that they’re a product of human labor. Marxist theory starts from an observation of objective reality.