/liberty/ - Liberty

Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks.

>>72533

Do you even economics bro? Are you even able to comprehend why capital is cheaper and more efficient to use in wealthier countries, while in poorer countries it is cheaper and more efficient to use labor?

I've been making that exact argument for years now. Capital is the result of sacrificing goods now for a (probable) payoff later. In ancient times it was starving for days at a time in order to build tools capable of hunting animals more effectively/easily. Today it's buying precious metals/bitcoin instead of that 12 pack of beer every week. Anyone got that shitty comic I made about Bob and Jose or something like that?

>>72538

I'll admit sitting through the whole thing can be pretty boring thanks to his tone and style of presentation. Doesn't make him wrong in of itself so any legitimate arguments as to why he's wrong are still necessary.

I don't like Hayek's capital theory in particular. I barely acknowledge his focus on economic knowledge as a separate factor, as if it was not already contained within Mises's theory without it being explicitly stated over and over.

>>72534

Are you even able to argue bro, rather than just attacking everyone who makes a point you don't like by accusing them of not understanding economics?

I honestly thought capital as it's commonly used was money or stocks. Like equity or something you can use to invest.

>>72538

These picture's here get really annoying despite some of their point.s

>>72555

The only thing all forms of capital held in common is that they are products of past labour.

Labor is capital.

>>72558

Tracing things back to labor is arbitrary. You could just as easily argue that all capital is the common product of interest, though I'm sure Marx would just disregard this as a "reification" rather than actually arguing against it.