Glad to see the Labor Theory of Value is still alive and well throughout the world these days. Because, if you repeat it often enough, it becomes the truth, right? Well, not so much. Lest I remind the good folks over at Workers World Online (come on, say you were surprised!), Lest I remind the good folks at Workers, labor is a commodity, it is neither a right nor an obligation.

Anyways, to the point:

Workers brings us the laughable argument that Ford’s $25B in cash could employ domestic workers indefinitely. A few things to consider: Arguing thusly, one reaches the conclusion that we ought to let our plants rest idle, and live off the fat of the “exploited” labor abroad – which, I might add is a philosophical nightmare for any true socialist.

Additionally, GM lost something along the line of NINE BILLION dollars in fiscal year 2005. $25 Billion doesn’t last very long at that pace. No, not very long at all.

More on Socialism, and how alive & well it is in Flint, Michigan, later. Until then if my previous discussion on the value of Labor isn’t enough, get your hands on Carl Menger’s Principles, focusing on his theory of imputation.