What is "socialism"? - An attempt to clear up myths/misconceptions

[Pyro as Bill]

sc94597 said:

Pyro as Bill said:
People actually believe the labour theory of value in 2018?

Haha. You make creationists look like quantum physicists.

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See: Cost the Limit of Price 

"In keeping with the tradition of Adam Smith's The Wealth of Nations,^[3] the "cost" of labor is considered to be the subjective cost; i.e., the amount of suffering involved in it.^[1]"

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And yeah, orthodox economics is nowhere nearly as scientific as quantum physics. Don't make me laugh. There's also many gaps which haven't been addressed, such as a fleshed out theory of the firm. 

So instead of using the most successful currency ever, lb of sterling silver, everything is denominated in 'labour hours'? Great idea!

Ignoring the fact that a 'brain surgery' hour is not equivalent to a 'clean the toilet' hour, how would this work for a bus driver? Let's say he has a 1hr route into town. If only 1 person rides the bus they have to pay 1LAB but if 50 people get on the bus they only pay 0.02LAB each? What happens if 50 people get on the bus but they all decide to get off halfway to watch a capitalist get shot? The price was 0.02LAB at the start of the journey but they only used 0.01LAB each for half an hr. Do the passengers get a refund or do they just shoot the driver for making a profit?

See? It doesn't even work in theory. One thing I like about Commies is how hilarious they can be when they don't hold actual political power.

Opening a cafe = colonialism