It provides a materialist foundation for further analyses that would otherwise be absent. It's extremely useful for the precise reason that it is objectively true, while demand side economic models are ideologically based.

An LTV analysis begins with such workers because they are the original contributors of surplus value that is appropriated by the ownership class.

I recommend reading about it in more detail if you're interested, I'm not certain but I think it is addressed in Chapter 6 of Capital 1. I don't mean to be rude but I really did have a tiring day at work and you seem to be clutching at straws a little with some of your comments.

[–] Prunebutt@feddit.de -1 points 11 months ago (2 children)

An LTV analysis begins with such workers because they are the original contributors of surplus value that is appropriated by the ownership class.

And what's that reasoning, if not based on ideology?

I really suggest watching unlearning egonomics video on the matter. I'm a leftist and mostly agree with Marx, but the LTV is a model and should be treated as such.

[–] feedum_sneedson@lemmy.world 1 points 11 months ago (1 children)

I believe you have fundamentally misunderstood LTV. It's a observational model rooted in objective, material reality - hence historical materialism.

I generally educate myself by reading, rather than watching YouTube. I'd prefer not to continue this conversation.

[–] Prunebutt@feddit.de -1 points 11 months ago (1 children)

I think you've misunderstood what a model is.

I generally educate myself by reading, rather than watching YouTube. I'd prefer not to continue this conversation.

Thank youfor the ableist, condescending comment. /s

[–] feedum_sneedson@lemmy.world 0 points 11 months ago

no worries fam

[–] archomrade@midwest.social 1 points 11 months ago (1 children)

Because at its core, a commodity is comprised of natural material and the labor that transforms it into something with use value. It isn't an ideological statement to say a commodity is only a commodity by the labor that creates it, it's just a statement of fact.

[–] Prunebutt@feddit.de 1 points 11 months ago

Reducing value to nothing but commodities is already a very ideologically charged act. We were talking about value before. The value of commodities is only a subset of what counts as value.