Twitter cuts (#28)¶
Jehu continues in his lonely struggle to demonstrate that Marxism can still think:
Jehu, what is inflation? — Inflation is monetary expression of superfluous (unnecessary) labor. It is not exces… http://t.co/8JOKRKDU5i
— Jehu (@Damn_Jehu) December 9, 2014
how does this swath of unnecessary labor lead inflation? — Okay. Let me try to explain this in a way that makes … http://t.co/ZRnPDAJdP0
— Jehu (@Damn_Jehu) December 9, 2014
What exactly does inflation of prices mean? Could you… — In its simplest terms, you can think of inflation as … http://t.co/skh8NdEzaP
— Jehu (@Damn_Jehu) December 9, 2014
If I ever wrote a book, it would be called, "Labor Theory of Inflation" and it would be so boring doctors would prescribe it for insomniacs.
— Jehu (@Damn_Jehu) December 9, 2014
But every puzzle of modern society would be revealed in that book.
— Jehu (@Damn_Jehu) December 9, 2014
@desillusionism Only if I could avoid the math. :)
— Jehu (@Damn_Jehu) December 9, 2014
The principle guiding the math here is luminous.
UF can be chalked down as an enthralled skeptic. Theoretical musings of this quality deserve a serious response — one that is no less attentive to the political-economic function of money as a distributor of claims not only over ‘resources’, but over the direction of behavior. (I’ll be working on one here.)