Proving the Labor Theory of Value(short)

Karl Popper, a philosopher of science, pushed the idea that for a theory to be scientific, it must make definite predictions that can be falsifiable. The labor theory of value is a scientific theory. It makes definite predictions which can be falsifiable. Some of the predictions that the theory makes is that there is a tendency for the rate of profit to fall(caused by a rising organic composition of capital which is the ratio between constant and variable capital), the working class will become impoverished(immiserated), capitalism requires a reserve army of unemployed, the prices of goods will correlate with the socially necessary labor time required for reproduction, capital will accumulate to fewer and fewer people with the passage of time, etc. These predictions have proven to be true. Below will be some interesting links which will prove these predictions(and thus validate the theory).

There is a tendency for the rate of profit to fall:

https://scholarworks.umass.edu/cgi/viewcontent.cgi?referer=https://www.youtube.com/&httpsredir=1&article=1098&context=econ_workingpaper

https://thenextrecession.wordpress.com/2017/09/09/towards-a-world-rate-of-profit-again/

https://thenextrecession.wordpress.com/2016/10/04/the-us-rate-of-profit-1948-2015/

https://thenextrecession.wordpress.com/2016/11/10/debating-the-rate-of-profit/

Click to access maito-esteban-the-historical-transience-of-capital-the-downward-tren-in-the-rate-of-profit-since-xix-century.pdf

The immiseration of the working class:

https://thenextrecession.wordpress.com/2017/04/05/bill-gates-and-4bn-in-poverty/

Capitalism requires a reserve army of unemployed:

See world bank data on multiple countries: https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS

The prices of goods will correlate with the socially necessary labor time required for reproduction:

http://www.academia.edu/2733004/The_empirical_strength_of_the_labour_theory_of_value

Click to access diego-guerrero-input-output-and-dynamic-values-a-spanish-perspective.pdf

Click to access dave-zachariah-labour-value-and-equalization-of-profit-rates-a-multi-country-study.pdf

Click to access paul-cockshott-allin-cottrell-greg-michaelson-testing-the-labor-theory-of-value-with-input-output-tables.pdf

Click to access paul-cockshott-and-allin-cottrell-the-scientific-status-of-the-labour-theory-of-value.pdf

Capital will accumulate to fewer and fewer people with the passage of time:

http://nymag.com/daily/intelligencer/2017/12/inequality-is-rising-globally-and-soaring-in-the-u-s.html

https://www.oxfam.org/en/pressroom/pressreleases/2018-01-22/richest-1-percent-bagged-82-percent-wealth-created-last-year

https://www.theguardian.com/inequality/2018/jan/22/inequality-gap-widens-as-42-people-hold-same-wealth-as-37bn-poorest

 

 

 

 

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