Re: Labor theory of cost

On Sun, 27 May 2007 23:33:57 +0000, jmh wrote:


The conomic costs are critical to political economic analysis
because that's extact what is driving the soocial process.

Rather lumpy but essentially correct. Gald to see that we agree about
cost actually being the correct focus as opposed to _value_.


The cost of Land still exists regardless of who's collecting
the rent.

Land has no cost. The APPARENT cost of particular locations is _labor_
saved by virtue of that location. In a good location I need only work
half as much to produce the same personal benefits for myself as I would
have in some other location. I can afford to give up some amount of my
produce as payment for the use of the location and still PROFIT from the
benefit of the location. I labor LESS for the net personal benefits I
receive after paying the rent or I would not locate myself in that
location. The net cost to me in labor for the use of the location is zero
or less. And the fact remains that labor is what is being expended for the
land rights and the benefits I receive, i.e. all goods are produced by
labor.

--
"I know no safe depository of the ultimate powers
of society but the people themselves; and
if we think them not enlightened enough to
exercise their control with a wholesome
discretion, the remedy is not to take it from
them, but to inform their discretion by
education." - Thomas Jefferson
http://GreaterVoice.org

.

Relevant Pages

  • Re: Labor theory of cost
    ... It is axiomatic that natural resources have NO COST. ... "land") are a product of land and labor (labor of course ... This observation holds true for ALL goods, ...
    (sci.econ)
  • Re: Labor theory of cost
    ... whether or not you assume land is free. ... Cost is equal to the value attached to the satisfaction that must be ... In this case we speak not of the "value" of labor ... This observation holds true for ALL goods, ...
    (sci.econ)
  • Re: OT Re: Repair Fraud?
    ... >> Fine as long as the options and costs are communicated to the customer ... > and $7 on an exhaust pipe, workflow thru the shop is disrupted, ... Simple because then you would have to increase your labor rate ... compare costs readily, inflating the cost there hurts the perception. ...
    (rec.autos.tech)
  • Re: Capital and Mark Monsons Land
    ... settling its liability to land. ... > ownership, however complex, to give monopoly advantage over labor. ... kept above its cost by all sorts of anti-competetive practices that are ...
    (sci.econ)
  • Re: Labor theory of cost
    ... cost actually being the correct focus as opposed to _value_. ... Land has no cost. ... All costs are labor. ... economy and of labor. ...
    (sci.econ)