How do you guys feel about this man? Was he onto something?
>>70001944
He's the father of modern capitalism, and by extension all concordant economic models.
As somebody aspiring to be a professional investor, I study his writings diligently
>>70002167
What do you recommend reading?
>>70002673
Wealth of Nations and Theory of Moral Sentiments
>>70001944
Total basket case. Economics will eventually be thrown out as a science
>>70002730
Leaf beat me to it
>>70002836
>Economics will eventually be thrown out as a science
Spotted the plebbit
Economics was made into a pseudoscience, so people could get paid more.
>>70002836
MUH EKONOMIKZ IZ FAKE BRAH! I KRAKED DA KODE OV DA UNIVERSE BRAH!
>>70001944
He was a naturalist, something that modern economists seem to forget. You have to expect people to act in their own self interest, and you need to be objective and study the way things are. Everything is secondary to a clear understanding of the truth.
Quite literally the most misunderstood economist ever.
He would literally be a commie today.
https://chomsky.info/warfare02/
>>70004976
>chomsky
>>70005152
>penn jillette
>>70005226
>Marx
>>70004976
>>70005152
>>70005226
>>70005464
youre both faggots
>>70001944
that's a case for extremes of regulation
what he's saying is that the businesses are not consciously making decisions which affect the community and that every aspect of their service is based around profit versus expenditure
>>70001944
> Labour, therefore, is the real measure of the exchangeable value of all commodities.
He accidentally invented communism
>>70004976
Doesn't Chomsky constantly imply that Jefferson was a leftist too?
I agree with a lot of what he says. It's easy to work out with good logic. But in some cases it seems like he's trying to paint a history contrary to all existing evidence.
>>70005698
How is saying that an object's worth comes from the effort required to produce it communism?
If anything you can argue that this is why worker productivity can go up by tons on recent years but the wages dont grow as much: automation and machinery makes the production increase for a comparatively smaller increase in the "effort" put into production.
Adam smith can suck this dick.
>>70007576
???
>>70001944
I study his writings, but I don't find them that interesting, it's important, sure. But it feels barebones compared to the stuff built upon them.
>>70006302
The Labor Theory of Value is a central tenet of the communist system, it's part of why they believe the workers should collectively own the means of production. According to that, workers create the value of a good through their labor on the resource required, therefore only they should have the right to own that resource.
In a capitalist system, the value of something is only worth what someone else is willing to exchange for it; supply side stuff such as the amount of labor influence price but the consumers ultimately decide how much they're willing to pay for it.
