Timeline for What is "the marginal cost of the work performed"?
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
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| Jul 26, 2022 at 11:21 | comment | added | 1muflon1♦ | @Nasan No Ricardo also believed it is objective measure, he refined the Smithian understanding of LTV but the objective yardstick for value is inherent proposition baked into the LTV, only way to get rid of that is to get rid of the LTV itself | |
| Jul 26, 2022 at 11:18 | comment | added | Nasan | "Labor theory of value postulates that labor can be used as an objective yardstick for value." Not to disagree with the wider point you're making, but I've been taught there's a difference between Smith's conceptions of LTV and Ricardo/Marx's conception. Smith believed that labour is an objective yardstick (the "commanded" LTV). Ricardo believed that value of good derives from the amount of labour incorporated in making of that good ("incorporated" LTV). | |
| Jul 26, 2022 at 11:11 | comment | added | 1muflon1♦ | @Nasan I don’t want to call it disutility as it could include some factors like cost of travel but MC is the marginal cost that worker incurs by working that is mostly the disutility, or rather the opportunity cost of utility gained by leisure, but also some other factors as well. Any marginal cost to the worker would be included. | |
| Jul 26, 2022 at 11:08 | comment | added | Nasan | I'm still confused. Are you saying E is the compensation for the disutility of labor, basically the wage? Or is E the disutility itself, If it's the former, then why the distincition with L? (which would imply L-E is taxes/contributions paid) | |
| Jul 26, 2022 at 10:12 | history | answered | 1muflon1♦ | CC BY-SA 4.0 |