Had a shower thought about economics and linguistics.

The only meaning to a word or phrase is that which a subjective listener imputes to it. This is similar to the fact that value is subjective.

For some reason, Marxists (and Smithian conservatives, as Marx built upon and attempted to make whole, the contradictory ideas in Adam Smith's Wealth of Nations) generally cannot grasp the nature of subjective value, nor can they grasp a single iota of anarcho-capitalist theory, as they get stumped by the mere word "capitalist" as well as by their assumptions that a single uniform unit of money should always both be earned from, and have the potential to command, imputedly equal values of labor. They further, in so making this assumption, collapse all of the factors of production into one: direct labor, which excludes pre-existing nature as well as capital stock from the calculation, as if everything valuable in the world exclusively materialized out of the hands of the laborers with no co-operation with other beings or materials outside of themselves.

Many other similar logical and narrow-perspective faux pas are made by people clinging to Marx-derived creeds, but these are probably the most salient. This kind of explains why they are always saying such buffoonery as "all capitalists are exploitative rulers."

#economics #definitions #labortheoryofvalue #subjectivetheoryofvalue