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Is the Labor Theory of Value junk?
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this post was submitted on 06 Nov 2022
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askchapo
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LTV is already empirically proven and Burgis is a hack. There's no reason to make such a concession. It's like "Marxists" who still concede to the Mises' and Hayek's economic calculation problem even though it has been technologically solvable for about 50 years now.
Do you know where I could find reputations of the economic calculation problem?
Walmart
wdym?
The idea that an economy can't be centrally planned because it's too computationally difficult, or really any other objection, is disproved by the monopolization of retail, logistics and production Walmart achieved reaching the scale of a nation state. They became the sole provider of goods in swaths of the US. At this point, to do communism you'd basically just have to take over Walmart.
"Vertically integrated" is just the politically correct term for "centrally planned"