GotchayeX on 08 December 2007
Honestly, I've always been content to say that communism is based on a labor theory of value, which I'd bet no one here agrees with. We all believe in marginal utility.
Marx's writings make perfect sense if you grant him that - there's exploitation of the working class by those who own the means of production, etc - and his solutions work, provided value is actually labor-based.
A theory of value based on marginal utility gives us something much closer to capitalism (market failures excepted - they're defined as market failures precisely because they're inferior with respect to marginal utility).
