this post was submitted on 08 Aug 2026
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Unpopular Opinion

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I don't think this is particularly unpopular outside of Lemmy, but still.

I consider myself a leftist primarily because:

  • I want every individual to have maximum possible freedom as long as its existence doesn't reduce the summation of the freedom of all individuals.
  • The current system doesn't do a good enough job at this as it permits power concentration.
  • The policies I believe would help achieve my "want" (the freedom thing) are generally considered "leftist".

Marx for his time, did some quite cool stuff. I really enjoyed his work in sociology. His critique of capitalism had merit.

THAT BEING SAID, labor theory of value is absolute dogshit. FOR THE TIME, sure, ok- nice effort. But TODAY, when marginalism has proven time and time again to be the more superior explanation to value, defending LTV is kinda lame.

I've never met a single professional economist who takes it seriously. Most of its defenders (in my experience) tend to be folks who have no economics background, and frankly aren't willing to have a good faith convo. I'm not trying to bandwagon effect + appeal to authority here, but this is just so reminiscent of anti vaxxers and flat earthers (at least for me).

I won't go into MY reasoning for preferring marginalist economics over LTV economics as there are much much better writeups for this than what I'm capable of. Here's one I could lazily find.

But yeah. In conclusion, I'm of the opinion that it would be much nicer if leftists got rid of Marx from their economics, and instead adopted economic models that better described reality.

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[–] NoneOfUrBusiness@fedia.io 6 points 9 hours ago (1 children)

I really don't have a horse in this race, but:

But TODAY, when marginalism has proven time and time again to be the more superior explanation to value,

Marginalism explains value... by not trying to explain it. Marginalism explains prices, which, sure but that's not the point here; from what I understand, LVT attempts to explain the social dynamics emerging from and underpinning economic production, which is where the "all value comes from labor" idea really shines.

I've never met a single professional economist who takes it seriously.

There are plenty of Marxian economists out there, but also mainstream economics tends to skew right (with often disastrous results), so economists aren't a representative sample of social scientists who deal with how the economy functions.

[–] FiniteBanjo@feddit.online 2 points 9 hours ago (1 children)

You can buy labor, you can buy lifespan, you can buy time itself...

Sounds like explaining prices explains value, to me.

[–] SreudianFlip@sh.itjust.works 2 points 6 hours ago

It describes exchange value. It does not address use value.

Reductionism is useful as an analytical tool, but only in specific cases, not generally, and thinking that any economy can be reduced to being driven by purchasing power is like saying that all a car needs to move is tires.