i've seen a lot of your videos and i know that you consider yourself a rational person .. this seems out of character for you .. what Marx did you read? it seemed reasonable enough to me when i read it, and certainly i wouldn't say he "knew almost nothing"
Post by twetch#3375
Marx believed that profits earned by entrepreneurs do not correspond to anything valuable that they contribute to production and that only the labor and resources that go into production are valuable. He believed that ultimately all value was due to labor.
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if entrepreneurs input helpful economic decisions, that's labor, that's part of the labor that's the entire value, it's when capital owners literally don't do anything that they're not laboring not when they do something constructive ... did you read Marx?
No, entrepreneurship is planning, not labor. Yes, I have read Marx.
the inputs are data about markets and resources -- the outputs are valuable knowledge about potentially profitable capital allocations -- the inputs are transformed into the outputs by physical work requiring chemical energy in human neurons
"potentially profitable" is the key word here. Entrepreneurs pay money first to buy capital goods and do not necessarily make money. Labor is paid by the hour or by the job. Laborers do not pay money first.
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