Re: [jox] p2p and market
- From: Patrick Anderson <agnucius gmail.com>
- Date: Fri, 30 Mar 2012 08:42:50 -0600
The value of commodities are determined
by abstract labor congealed in them.
That is the Labor Theory of Value.
But it is only a theory.
Here is another theory:
The value of commodities are determined
by the consumer's dependence upon the
current owners of the Means of Production.
Profit measures Property misallocation,
and is eliminated when the Consumer
co-Owns the physical Sources of that
which he needs the outputs - for in that
case the Product is not even sold since
it is already in the proper hands.
Profit is *undefined* when Product is ROI.
This imputation short-circuits the usual
need to buy and sell goods and services,
though it is only one half - the other being
the scheduling the swapping of tasks
before production begins.
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