ECONOMICS

Authored by Allen Gindler via The Mises Institute,

One of the central tenets of Marxism is the labor theory of value, which states that the value of a commodity is determined by the amount of socially necessary labor time required to produce it. In this framework, labor itself becomes a commodity—something that can be bought and sold in the marketplace. Marx argues that, under capitalism, workers are forced to sell their labor power to capitalists, who exploit them by paying wages that (more…)

Authored by David Stockman via InternationalMan.com,

When in the course of history’s twists and turns dire necessity becomes the mother of invention the hour is usually late. That’s the case with America’s septic fiscal derangement at the present time. There is simply not a snowball’s chance in the hot place that either the Trumpified GOP or the beltway blob-controlled Democrats will lift a finger to deflect America’s fiscal doomsday machine from its appointed rendezvous with (more…)

Authored by Austin Alonzo via The Epoch Times (emphasis ours),

More Americans than ever are turning to the so-called gig economy—providing services ranging from taxi services to grocery deliveries, often through digital platforms—either on the side or as a career.

The marketplace, however, is no longer the “subsidized fantasy land” it once was, one former gig worker says. An analyst described pursuing gig work as a career as “the biggest mistake of your life.”

(more…)