One of the most frustrating things about academic Marxism is that it hypothesizes that “capitalists” (whom they bung together with remarkable aplomb) do things like figure in the reproduction cost of labor. They don’t. They’re focused on the next quarter and maybe the next year. Maybe even the next five years. But no one ranging from Elon Musk to (not sure who his opposite would be so I’m kinda taking a stab here) Warren Buffett is thinking in terms of generational replacement. First, they’re not going to live that long. Neither are their shareholders. Plus capital is mobile - it’ll just go someplace else.
This is a headline precisely because it’s a man bites dog story. If your company gives you paid parental leave it’s either because it’s legally required or for retention. It’s not in the hope that the little toy will become a software engineer at the company in 25 years.
One of the most frustrating things about academic Marxism is that it hypothesizes that “capitalists” do things like figure in the reproduction cost of labor.
It doesn’t? It never postulates that capitalists actively control the economy or do more than the bare minimum, on the contrary that they are bound to the laws of the market is one of the main points of marxism. That the cost of replacement factors into the cost of labor power is like the cost of replacement factoring in for any other commodity on the market. I highly suggest you read the booklet I linked, it’s very short.
One of the most frustrating things about academic Marxism is that it hypothesizes that “capitalists” (whom they bung together with remarkable aplomb) do things like figure in the reproduction cost of labor. They don’t. They’re focused on the next quarter and maybe the next year. Maybe even the next five years. But no one ranging from Elon Musk to (not sure who his opposite would be so I’m kinda taking a stab here) Warren Buffett is thinking in terms of generational replacement. First, they’re not going to live that long. Neither are their shareholders. Plus capital is mobile - it’ll just go someplace else.
This is a headline precisely because it’s a man bites dog story. If your company gives you paid parental leave it’s either because it’s legally required or for retention. It’s not in the hope that the little toy will become a software engineer at the company in 25 years.
It doesn’t? It never postulates that capitalists actively control the economy or do more than the bare minimum, on the contrary that they are bound to the laws of the market is one of the main points of marxism. That the cost of replacement factors into the cost of labor power is like the cost of replacement factoring in for any other commodity on the market. I highly suggest you read the booklet I linked, it’s very short.