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.
Post by twetch#1612
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?
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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.
so you do understand that they're doing a job, doing work, doing labor, using their mind and other parts of their body to produce value from less valuable things .. other than that labor, what do they contribute to the value of things
surely -- now that you recognize that as work -- you can see that the whole of the value is produced by work, that work given access to capital is the only thing that can possibly produce value
You're clearly stating here your misunderstanding. You're saying that you think "all value comes from labor" means "all value comes from wage labor." That's not what it means. It means any labor, any work, anyone doing anything, anything at all, just that.
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