Labor Theory Of Value Quotes

This false appearance distinguishes wages labour from other historical forms of labour. On the basis of the wages system even the unpaid labour seems to be paid labour. With the slave, on the contrary, even that part of his labour which is paid appears to be unpaid. Of course, in order to work the slave must live, and one part of his working day goes to replace the value of his own maintenance. But since no bargain is struck between him and his master, and no acts of selling and buying are going on between the two parties, all his labour seems to be given away for nothing. ~ Karl Marx

The cry for an equality of wages rests, therefore, upon a mistake is an inane wish never to be fulfilled. It is an offspring of that false and superficial radicalism that accepts premises and tries to evade conclusions. Upon the basis of the wages system the value of labouring power is settled like that of every other commodity; and as different kinds of labouring power have different values, or require different quantities of labour for their production, they must fetch different prices in the labour market. To clamour for equal or even equitable retribution on the basis of the wages system is the same as to clamour for freedom on the basis of the slavery system. What you think just or equitable is out of the question. The question is: What is necessary and unavoidable with a given system of production? After what has been said, it will be seen that the value of labouring power is determined by the value of the necessaries required to produce, develop, maintain, and perpetuate the labouring power. ~ Karl Marx

The older theories, which started from an erroneous conception of the social demand for money, could never arrive at a solution of this problem. Their sole contribution is limited to paraphrases of the proposition that an increase in the stock of money at the disposal of the community while the demand for it rClnains the same decreases the objective exchange-value of money, and that an increase of the demand with a constant available stock has the contrary effect, and so on. By a flash of genius, the formulators of the Quantity Theory had already recognized this. We cannot by any means call it an advance when the formula giving the amount of the demand for money (Volume of Transactions + Velocity of Circulation) was reduced to its elements. ~ Ludwig Von Mises

Unless a thing can be defined by measurement, it has no place in a theory. And since an accurate value of the momentum of a localized particle cannot be defined by measurement it therefore has no place in the theory. ~ Richard P. Feynman

A crackpot theory. Instead of saying labor's exploited, as Marx did, Kelso says capital's exploited. It's worse than Marx. It's Marx stood on its head. ~ Milton Friedman

Betrayed and abandoned, cut adrift or superannuated, coerced or manipulated, speeded up, cheated, living in the shadows - this is a recipe for acquiescence. Yet conditions of life and labor as bad as or even far worse than these once were instigators to social upheaval. Alongside the massing of enemies on the outside - employers, insulated and self-protective union leaders, government policy makers, the globalized sweatshop, and the globalized megabank - something in the tissue of working-class life had proved profoundly disempowering and also accounted for the silence.

Work itself had lost its cultural gravitas. What in part qualified the American Revolution as a legitimate overturning of an ancien régime was its political emancipation of labor. Until that time, work was considered a disqualifying disability for participating in public life. It entailed a degree of deference to patrons and a narrow-minded preoccupation with day-to-day affairs that undermined the possibility of disinterested public service. By opening up the possibility of democracy, the Revolution removed, in theory, that crippling impairment and erased an immemorial chasm between those who worked and those who didn't need to. And by inference this bestowed honor on laboring mankind, a recognition that was to infuse American political culture for generations.

But in our new era, the nature of work, the abuse of work, exploitation at work, and all the prophecies and jeremiads, the condem ~ Steve Fraser

[D]espite what our intuition tells us, changes in the world's population are not generally neutral. They are either a good thing or a bad thing. But it is uncertain even what form a correct theory of the value of population would take. In the area of population, we are radically uncertain. We do not know what value to set on changes in the world's population. If the population shrinks as a result of climate change, we do not know how to evaluate that change. Yet we have reason to think that changes in population may be one of the most morally significant effects of climate change. The small chance of catastrophe may be a major component in the expected value of harm caused by climate change, and the loss of population may be a major component of the badness of catastrophe.

How should we cope with this new, radical sort of uncertainty? Uncertainty was the subject of chapter 7. That chapter came up with a definitive answer: we should apply expected value theory. Is that not the right answer now? Sadly it is not, because our new sort of uncertainty is particularly intractable. In most cases of uncertainty about value, expected value theory simply cannot be applied.

When an event leads to uncertain results, expected value theory requires us first to assign a value to each of the possible results it may lead to. Then it requires us to calculate the weighted average value of the results, weighted by their probabilities. This gives us the event's expected value ~ John Broome

There may be rhetoric about the socially constructed nature of Western science, but wherever it matters, there is no alternative. There are no specifically Hindu or Taoist designs for mobile phones, faxes or televisions. There are no satellites based on feminist alternatives to quantum theory. Even that great public sceptic about the value of science, Prince Charles, never flies a helicopter burning homeopathically diluted petrol, that is, water with only a memory of benzine molecules, maintained by a schedule derived from reading tea leaves, and navigated by a crystal ball. ~ Simon Blackburn

Little attention was paid to current events. The view was taken that if a man knew Marx's Theory of Value and the progress of society from early times he was equipped to analyze anything. ~ Robert Barltrop

Economic growth springs not chiefly from incentives - carrots and sticks, rewards and punishments for workers and entrepreneurs. The incentive theory of capitalism allows its critics to depict it as an inhumane scheme of clever manipulation of human needs and hungers scarcely superior to the more benign forms of slavery. Wealth actually springs from the expansion of information and learning, profits and creativity that enhance the human qualities of its beneficiaries as it enriches them. Workers' learning increasingly compensates for their labor, which imparts knowledge as it extracts work. Joining knowledge and power, capitalism focuses on the entropy of human minds and the benefits of freedom. Thus it is the most humane of all economic systems. ~ George Gilder

His [Thomas Edison] method was inefficient in the extreme, for an immense ground had to be covered to get anything at all unless blind chance intervened and, at first, I was almost a sorry witness of his doings, knowing that just a little theory and calculation would have saved him 90 per cent of the labor. But he had a veritable contempt for book learning and mathematical knowledge, trusting himself entirely to his inventor's instinct and practical American sense. In view of this, the truly prodigious amount of his actual accomplishments is little short of a miracle. ~ Nikola Tesla

Is power like the vis viva and the quantite d'avancement? That is, is it conserved by the universe, or is it like shares of a stock, which may have great value one day, and be worthless the next? If power is like stock shares, then it follows that the immense sum thereof lately lost by B[olingbroke] has vanished like shadows in sunlight. For no matter how much wealth is lost in stock crashes, it never seems to turn up, but if power is conserved, then B's must have gone somewhere. Where is it? Some say 'twas scooped up by my Lord R, who hid it under a rock, lest my Lord M come from across the sea and snatch it away. My friends among the Whigs say that any power lost by a Tory is infallibly and insensibly distributed among all the people, but no matter how assiduously I search the lower rooms of the clink for B's lost power, I cannot seem to find any there, which explodes that argument, for there are assuredly very many people in those dark salons. I propose a novel theory of power, which is inspired by . . . the engine for raising water by fire. As a mill makes flour, a loom makes cloth and a forge makes steel, so we are assured this engine shall make power. If the backers of this device speak truly, and I have no reason to deprecate their honesty, it proves that power is not a conserved quantity, for of such quantities, it is never possible to make more. The amount of power in the world, it follows, is ever increasing, and the rate of increase grows ever faster as more of the ~ Neal Stephenson

The error I found in the philosophy of Henry George was its cocksureness, its simplicity, and the small value that it placed upon the selfish motives of men. The doctrine was a hang-over from the seventeenth century in France, when the philosophers had given up the idea of God, but still thought that there must be some immovable basis for man's conduct and ideals. In this dilemma they evolved the theory of natural rights. If 'natural rights' means anything it means that the individual rights are to be determined by the conduct of Nature. But Nature knows nothing about rights in the sense of human conception. ~ Clarence Darrow

Every non-Marxist economic theory that treats human and non-human productive inputs as interchangeable assumes that the dehumanisation of human labour is complete. But if it could ever be completed, the result would be the end of capitalism as a system capable of creating and distributing value. ~ Yanis Varoufakis

I believe that my theory is correct; for whatever be the question upon which I am arguing, whether it be religious, philosophical, political, or economical; whether it affects well-being, morality, equality, right, justice, progress, responsibility, property, labor, exchange, capital, wages, taxes, population, credit, or Government; at whatever point of the scientific horizon I start from, I invariably come to the same thing - the solution of the social problem is in liberty. ~ Frederic Bastiat

If we increase r [in a logistic map] even more, we will eventually force the system into a period-8 limit cycle, then a period-16 cycle, and so on. The amount that we have to increase r to get another period doubling gets smaller and smaller for each new bifurcation. This cascade of period doublings is reminiscent of the race between Achilles and the tortoise, in that an infinite number of bifurcations (or time steps in the race) can be confined to a local region of finite size. At a very special critical value, the dynamical system will fall into what is essentially an infinite-period limit cycle. This is chaos. ~ Gary William Flake

The Theory of Surplus Value means that anytime you hire someone, you are exploiting him. If you pay someone to fix your automobile, he has the right, by virtue of being your mechanic, to steal your car. ~ P. J. O'Rourke

We need to revise our economic thinking to give full value to our natural resources. This revised economics will stabilize both the theory and the practice of free-market capitalism. It will provide business and public policy with a powerful new tool for economic development, profitability, and the promotion of the public good. ~ Paul Hawken

If we live in a world of states, and if out-of-state existence is impossible, then we all must live as national citizens. We are the nation, and the nation is us. This is as fundamental as it is an inescapable reality. Nationalism engulfs both the individual and the collective; it produces the 'I' and 'We' dialectically and separately. Not only does nationalism produce the community and its individual members: it is itself the community and its realized individual subjects, for without these there is no nationalism.

"Leading sociologists and philosophers have emphasized the pervasive presence of the community in individual consciousnesses, where the social bond is an essential part of the self. It is not only that the 'I' is a member of the 'We,' but, more importantly, that the 'We' is a necessary member of the 'I.' It is an axiom of sociological theory, writes Scheler, that all human knowledge 'precedes levels of self-contagiousness of one's self-value. There is no "I" without "We." The "We" is filled with contents prior to the "I." ' Likewise, Mannheim emphasizes ideas and thought structures as functions of social relations that exist within the group, excluding the possibility of any ideas arising independently of socially shared meanings. The social reality of nationalism not only generates meanings but is itself a 'context of meaning'; hence our insistence that nationalism constitutes and is constituted by the community as a social order. 'It is senseless to p ~ Wael B. Hallaq

Despite my admiration for scientific knowledge, I am not an adherent of scientism. For scientism dogmatically asserts the authority of scientific knowledge; whereas I do not believe in any authority and have always resisted dogmatism; and I continue to resist it, especially in science. I am opposed to the thesis that the scientist must believe in his theory. As far as I am concerned "I do not believe in belief," as E. M. Forster says; and I especially do not believe in belief in science. I believe at most that belief has a place in ethics, and even here only in a few instances. I believe, for example, that objective truth is a value - that is, an ethical value, perhaps the greatest value there is - and that cruelty is the greatest evil. ~ Karl R. Popper

Socialism may be worthless as a scheme, but it is not meaningless as a symptom. Rousseau's theory of the origin of society, of the social contract, and of a cure for all the social evils by a return to a state of nature, had, as we all know now, no more relation to fact than the dreams of an illiterate drunkard; but they were not without value as a vague and symbolical expression of certain evils from which the France of his day was suffering. ~ William Hurrell Mallock

Perhaps many of the security analysts are handicapped by a flaw in their basic approach to the problem of stock selection. They seek the industries with the best prospects of growth, and the companies in these industries with the best management and other advantages. The implication is that they will buy into such industries and such companies at any price, however high, and they will avoid less promising industries and companies no matter how low the price of their shares. This would be the only correct procedure if the earnings of the good companies were sure to grow at a rapid rate indefinitely in the future, for then in theory their value would be infinite. And if the less promising companies were headed for extinction, with no salvage, the analysts would be right to consider them unattractive at any price. ~ Benjamin Graham

The ideology of liberal humanism found expression in the earliest reviews of Hardy's writing and remained a dominant force until the explosion of literary theory in the 1980s. It is a broad and still influential category. It endorses the moral value of the individual, and the strength of the human spirit. It prefers the integrity of an organic rural society to the anonymity and materialism of an urbanised and technological world. Applied to fiction, this ideology involves the naturalisation of the novel's world and its values, and the recognition of fictional character as presenting a unified subject. ~ Geoffrey Harvey

A sound theory of value demands something different. It demands that good should be original and evil a mere perversion; that good should be the tree and evil the ivy; that good should be able to see all round evil (as when sane men understand lunacy) while evil cannot retaliate in kind; that good should be able to exist on its own while evil requires the good on which it is parasitic in order to continue its parasitic existence. ~ C.S. Lewis

The notion of mental accounts is absent in traditional economic theory, which holds that wealth in general, and money in particular, should be fungible: That is, $100 in roulette winnings, $100 in salary, and a $100 tax refund should have the same significance and value to you, since each C-note could buy the same number of downloads from iTunes or the same number of burgers at McDonald's. Likewise, $100 kept under the mattress should invoke the same feelings or sense of wealth as $100 in a bank account or $100 in U.S. Treasury securities (ignoring the fact that money in the bank, or in T-bills, is safer than cash under the bed). If money and wealth are fungible, there should be no difference in the way we spend gambling winnings or salary. ~ Gary Belsky

I swear the older I get, the more I value bad examples over good ones. It's a good thing too, because most people are egotistical, neurotic, self-absorbed peons, insistent on wearing near-sighted glasses in a far-sighted world. And it's this exact sort of myopic ignorance that has led to my groundbreaking new theory. I call it Mim's Theorem of Monkey See Monkey Don't, and what it boils down to is this: it is my belief that there are some people whose sole purpose of existence is to show the rest of how not to act. ~ David Arnold

In his first philosophical lecture on modern physics that Pauli gave in November 1934 to the Zurich Philosophical Society he said that only a formulation of quantum theory would be satisfactory which expresses the relation between the value of [the fine structure constant] and charge conservation in the same complementary was as that between the space-time description and energy-momentum conservation. ~ Charles P. Enz

… there are no arbitrary constants ... nature is so constituted that it is possible logically to lay down such strongly determined laws that within these laws only rationally determined constants occur (not constants, therefore, whose numerical value could be changed without destroying the theory). ~ Albert Einstein

The theory of the determination of wages in a free market is simply a special case of the general theory of value. Wages are the price of labour. ~ Sir John Richard Hicks

The scientific study of labor economics provided the opportunity for me to unite theory with evidence my lifetime intellectual passion. ~ James Heckman

Ruskin's much-derided moral theory of art was part of an attempt to show that this human activity, which we value so highly, engaged the whole of human personality. His insistence on the sanctity of nature was part of an attempt to develop Goethe's intuition that form cannot be put together in the mind by an additive process, but is to be deduced from the laws of growth in living organisms, and their resistance to the elements. ~ Kenneth Clark

The economists will have to revise their theories of value. ~ Albert Einstein

Finally, if we add to these observations the remark that Marx owes to the bourgeois economists the idea, which he
claims exclusively as his own, of the part played by industrial production in the development of humanity, and that
he took the essentials of his theory of work-value from Ricardo, an economist of the bourgeois industrial
revolution, our right to say that his prophecy is bourgeois in content will doubtless be recognized. These
comparisons only aim to show that Marx, instead of being, as the fanatical Marxists of our day would
have it, the beginning and the end of the prophecy, participates on the contrary in human nature: he is an
heir before he is a pioneer. His doctrine, which he wanted to be a realist doctrine, actually was realistic
during the period of the religion of science, of Darwinian evolutionism, of the steam engine and the
textile industry. A hundred years later, science encounters relativity, uncertainty, and chance; the
economy must take into account electricity, metallurgy, and atomic production. The inability of pure
Marxism to assimilate these successive discoveries was shared by the bourgeois optimism of Marx's time.
It renders ridiculous the Marxist pretension of maintaining that truths one hundred years old are
unalterable without ceasing to be scientific. Nineteenth-century Messianism, whether it is revolutionary or
bourgeois, has not resisted the successive developments of this ~ Albert Camus

A theory is only as good as its assumptions. If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience. ~ Maurice Allais

We can measure the fine structure constant with very great precision, but so far none of our theories has provided an explanation of its measured value. One of the aims of superstring theory is to predict this quantity precisely. Any theory that could do that would be taken very seriously indeed as a potential 'Theory of Everything'. ~ John D. Barrow

Perhaps what matters," Sunstein muses, "is not whether people are right on the facts, but whether they are frightened." And people do seem to be frightened. We are locking our doors and pulling our children out of public school and buying guns and ritually sanitizing our hands to allay a wide range of fears, most of which are essentially fears of other people. All the while we are also, in our way, reckless. We get intoxicated, from the Latin "to poison," for fun. This contradiction leads Sunstein to worry that regulatory laws based on the priorities of the general public maybe prone to a pattern of "paranoia and neglect." Too much attention may be spent on minimal risks, while too little is paid to pressing threats. Paranoia, the theorist Eve Sedgwick observes, tends to be contagious. She calls it a "strong theory," meaning a wide-ranging, reductive theory that displaces other ways of thinking. And paranoia very frequently passes for intelligence. As Sedgwick observes, "to theorize out of anything but a paranoid critical stance has come to seem naïve, pious, or complaisant." She does not believe that paranoid thinking is necessarily delusional or wrong, but only that there is value to approaches that are less rooted in suspicion. "Paranoia," Sedgwick writes, "knows some things well and others poorly. ~ Eula Biss

Across ideological differences, the femjnists have realized that a hierarchical ranking of human faculties and the identification of women with a degraded conception of corporeal reality has been instrumental, historically, to the consolidation of patriarchal power and the male exploration of female labor. Thus, analyses
of sexuality, procreation, and mothering have been at the center of feminist theory
and women's history. In particular, feminists have uncovered and denounced the strategies and the violence by means of which male-centered systems of exploitation have attempted to discipline and appropriate the female body, demonstrating that women's bodies have been the main targets, the privileged sites, for the deployment of power techniques and power relations.
and power-relations ~ Silvia Federici

Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study. ~ John Kenneth Galbraith