[p2p-research] Profit Measures the Payer's lack of Physical Source Ownership

[Michel Bauwens]

>
> Thanks.  And I accept your corrections.  I would still like to see Stallman
> answer the question...is he a Marxist?
>
> I personally don't see where you derive that Smith had a labor theory of
> value.
>

see the fount of all truth, the wikipedia: "Various labor theories of value
prevailed amongst classical
economists<http://en.wikipedia.org/wiki/Classical_economics>,
including Adam Smith <http://en.wikipedia.org/wiki/Adam_Smith> and David
Ricardo <http://en.wikipedia.org/wiki/David_Ricardo>, culminating with the
socialist theories of Karl Marx <http://en.wikipedia.org/wiki/Karl_Marx>."
(http://en.wikipedia.org/wiki/Labor_theory_of_value)

and please note how some (post)Marxists, like Negri and I believe Carlos
Castoriadis, also reject the labour theory of value



He clearly understood markets.  I've meandered through Wealth of Nations
> more than once...but I'll put the question to Gavin who is certainly the
> authority...and a decently trained economist as well as historian.
> http://adamsmithslostlegacy.com/
>


Smith may have understood markets well , and many smith scholars insist
current markets have nothing to do with the original version of smith, since
he clearly saw them embedded in socially friendly structures (his earlier
work on the ethical economy)


>
> As to profit, the big boogeyman of this list, I'd love to see someone
> define it and categorize it without a cost theory or labor theory of value.
> I'd also love for someone to advance a moral theory as to why profit is
> definitively inefficient, immoral or otherwise detrimental or when and under
> what conditions it might be so.
>


Profit is not the bogeyman, but profit as the sole guide for a society's
functioning, with complete disregard of any environmental and social
externalities, clearly should be


>
> That would be useful to P2P theory, I would think.
>
> Ryan
>
> I cannot, for the life of me, see any issue in one person selling something
> with gain if another person happily buys it.  Where the exploitation lies in
> such systems is very hard to grasp.
>
>
>
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>


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