[yogthos]

Of course it has to do with profits and who gets it. That's the whole context for introducing the theory of value in Kapital, which one of us actually read while the other evidently skimmed a wikipedia page.

Labour theory of value is not in anyway at odds with the idea of supply and demand. In fact, the whole idea of value in Kapital is derived from supply and demand.

The labour theory of value states that the inherent value of a commodity is directly related to the combination of labour and cost of the machinery needed to produce the commodity. This is what acts as the foundation for the value that the market assigns to the commodities. The market value doesn't just appear out of thin air, it's rooted in material costs of production.

To put it bluntly, you have an infantile understanding of the subject you're attempting to debate here.

[leethaxor]

Kek

[yogthos]

Pretty much the quality of discourse I was expecting here. Next time try to stick to opining on topics you actually understand.

[leethaxor]

Kek

(I bet I read the book more times than you. It's sitting right there on a shelf next to my desk :-))

[yogthos]

If you read the book then you'd understand what labour theory of value is. Your comments make it pretty clear that you don't. You literally don't understand how it relates to market. Kek as you say.