Re:Mexico’s Attempt to Save Freud from the Nazis
by CryptoPunk on Tuesday October 22, 2019 @11:13AM
(#21324544)
Marx stated that constant capital contributed no new value to the production - that its contribution was equivalent to its depreciation, and thus on the balance, zero. This is more of his pure economic illiteracy and quackery.
So no, Marx did NOT recognize "the value that [the investors'] capital provided" in the production of goods/services. His silly theory put the net value contributed by the capital at zero. Apparently working for years to create a machine that can automate berry picking is identical in value to picking berries every day for years - the long-term investment of time into a project to raise productivity added no value according to him.
The man and his economic theories are absurd. In one sense, they are exactly what they claim to be: anti-capitalist. They are hostile to the processes that build capital.
https://en.wikipedia.org/wiki/Constant_capital#Why_%22consta...?
So no, Marx did NOT recognize "the value that [the investors'] capital provided" in the production of goods/services. His silly theory put the net value contributed by the capital at zero. Apparently working for years to create a machine that can automate berry picking is identical in value to picking berries every day for years - the long-term investment of time into a project to raise productivity added no value according to him.
The man and his economic theories are absurd. In one sense, they are exactly what they claim to be: anti-capitalist. They are hostile to the processes that build capital.