No leftist can comprehend this
- Thread starter Diogenes
- Start date
Matt Dillon
Retardium User
Fuck that AI slop BS, Legiono!
Matt Dillon
Retardium User
Do humanity a favor and take my advice, Boomer.
In the early 1870s, a quiet but revolutionary shift took place in economic thought.
Working independently and almost simultaneously, three economists - Carl Menger in Austria, William Stanley Jevons in Britain, and Léon Walras in Switzerland - overturned the classical understanding of value.
In 1871, Menger published his groundbreaking Principles of Economics, arguing that the value of a good is not determined by the labour required to produce it, but by the subjective importance individuals place on it.
Value is not objective or embodied in objects. It is marginal - determined by the least important use of a good to the individual.
Jevons and Walras reached similar conclusions around the same time.
Together, they launched what became known as the Marginalist Revolution, shifting economics from production costs and labour theories toward subjective marginal utility.
This new framework was devastating for Karl Marx’s Labour Theory of Value.
Philip H. Wicksteed, an English economist and theologian deeply influenced by Jevons, delivered one of the earliest systematic critiques of Marx from a marginalist perspective in 1884. He showed that Marx’s entire theory of exploitation rested on a flawed foundation.
Later, the Austrian economist Eugen von Böhm-Bawerk built upon Menger’s work and delivered an even more comprehensive demolition of Marx in his 1896 book Karl Marx and the Close of His System. Böhm-Bawerk exposed not only the failure of the Labour Theory of Value, but also the impossibility of economic calculation under socialism and the central role of time preference in capital and interest.
The Marginalist Revolution replaced the labour theory with a subjective, individualist understanding of value that forms the bedrock of modern economics. It demonstrated that value is discovered in the minds of acting individuals, not created by labour or cost of production.This intellectual shift provided one of the most powerful defences of free markets and capitalism ever articulated - and delivered a fatal blow to the theoretical core of Marxism.
Working independently and almost simultaneously, three economists - Carl Menger in Austria, William Stanley Jevons in Britain, and Léon Walras in Switzerland - overturned the classical understanding of value.
In 1871, Menger published his groundbreaking Principles of Economics, arguing that the value of a good is not determined by the labour required to produce it, but by the subjective importance individuals place on it.
Value is not objective or embodied in objects. It is marginal - determined by the least important use of a good to the individual.
Jevons and Walras reached similar conclusions around the same time.
Together, they launched what became known as the Marginalist Revolution, shifting economics from production costs and labour theories toward subjective marginal utility.
This new framework was devastating for Karl Marx’s Labour Theory of Value.
Philip H. Wicksteed, an English economist and theologian deeply influenced by Jevons, delivered one of the earliest systematic critiques of Marx from a marginalist perspective in 1884. He showed that Marx’s entire theory of exploitation rested on a flawed foundation.
Later, the Austrian economist Eugen von Böhm-Bawerk built upon Menger’s work and delivered an even more comprehensive demolition of Marx in his 1896 book Karl Marx and the Close of His System. Böhm-Bawerk exposed not only the failure of the Labour Theory of Value, but also the impossibility of economic calculation under socialism and the central role of time preference in capital and interest.
The Marginalist Revolution replaced the labour theory with a subjective, individualist understanding of value that forms the bedrock of modern economics. It demonstrated that value is discovered in the minds of acting individuals, not created by labour or cost of production.This intellectual shift provided one of the most powerful defences of free markets and capitalism ever articulated - and delivered a fatal blow to the theoretical core of Marxism.
View: https://x.com/cremieuxrecueil/status/2081064013652193505?s=20
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Durable Lessons on Intelligence from Twin and Adoption Research - Behavior Genetics
Matt McGue’s research has made intelligence a model case for the explanatory reach of behavioral genetics. His early studies, conducted with Thomas Bouchard and other collaborators, on twins and other kinships demonstrated that cognitive ability is substantially heritable, and later analyses...
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Matt Dillon
Retardium User
Matt Dillon
Retardium User
Bodyslam you onto that motherfucker ass first, biiiitch!Try and make me, faggot.
