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Tag Archives: prices

Trudeau’s proposed speculation tax

Posted by Nick Falvo under BC, bubble, cities, economic thought, foreign investment/ownership, globalization, housing, inequality, interest rates, investment, Liberal Party policy, monetary policy, municipalities, Ontario, party politics, prices, private equity, regulation, Role of government, taxation, Toronto, wealth. September 25th, 2019Comments: none I’ve written a blog post about the Trudeau Liberals’ recently-proposed speculation tax on residential real estate owned...

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Empirical Studies showing that Prices are Correlated with Labour Costs do not Prove the Classical Marxist Labour Theory of Value!

I can’t count the number of times some absurd apologists for Marxism cite some paper in my comments section showing prices are correlated with labour costs – as if this proves the classical Marxist labour theory of value.It does no such thing. The Marxist labour theory of value says much more than this.In volume 1 of Capital, the “law of value” expounded there was later described by Marx in these terms: “The assumption that the commodities of the various spheres of production are sold at...

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Engels’ View of the Theory of Value in Volume 1 of Capital in the 1890s

This can be seen in an article Engels wrote in May 1895 for the Neue Zeit (Marx 1991: 1027, n.), which is available as the “Supplement and Addendum” to Volume 3 of Capital in Marx (1991: 1027–1047).Right at the beginning of this supplement, Engels notes that people such as Achille Loria had pointed to the devastating contradiction between volume 1 and volume 3 of Capital in the theory of value (Marx 1991: 1027–1028).Next, Engels mentions that Werner Sombart, in a review of Marx’s work...

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