What do you think of David Graeber's interpretation of Marx's value theory in his book "Toward an Anthropological Theory of Value"?

oh, i thought you wanted us to read all of that shit, i'm glad i was lazy and just skipped to the part about marx.

"If one were to determine that the U.S. economy devotes, say, 19 percent of its GDP to health care, 16 percent to the auto industry, 7 percennt to TV and Hollywood, and .2 percent to the fine arts, one can say this is a measure of how important these areas are to us as a society. Marx is proposing we simply substitute labor as a better measure : if Americans spend 7 percent of their creative energies in a given year producing automobiles, this is the ultimate measure of how important it is to us to have cars. One can then extend the argument: if Americans have spent, say, .000000000007 percent or some similarly infinitesimal proportion of their creative energies in a given year on this car, then that represents its value. This is basically Marx’s argument, except that he was speaking of a total market system, which would by now go beyond any particular national economy to include the world."

I don't remember marx saying whatever industry had the most work dumped into it was the most important. This is assuming everyone has a decision in how labour is used (that would be communism).

i dont want to format that shit once i copy+paste

/r/marxism_101 Thread