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Anytime someone starts talking about the magic of the market I know they are lost and clueless. Read Marx's Grundrisse for starts . SURPLUS VALUE comes from exploiting workers labor input. Pretty basic....no mystery or " magic".

As for China it is still a Centralized Planned economy and they took advantage of capitalist markets true but still Central planning used those profits to build the rest of their society. You certainly can't say that for the capitalist economies like the USA.

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Oh, I almost forgot to refute your Earnest remark that...

"You certainly can't say that for the capitalist economies like the USA."

It just so happened that canals, ports, bridges, multilane divided expressways, water works, sewers, and other infrastructure were built by governments and financed in part with profits extracted from capitalist markets. (Financing is extracted also from the populace by government borrowing, which is fiendishly inflationary.) And did you know that the ugly, secularist layouts of many streets in America are the result of central planning? I'd wager that you did, just like you know that Lincoln and the GOP were under the influence of Marxism before their big, brutal war, the very first to test the industrial revolution for its ability to ruin Life during wartime, too.

You're welcome, Earnest, for explaining most of yourself to you in just a few paragraphs spread over several replies. People pay lots of money for that sort of service, you know, but I don't prescribe drugs or string you along to increase my own billable hours.

You're welcome also for the hint that if there is climate change casued by O-C-O omissions, THEN central planners and their public-private partnerships are among the leading perps of climate change. Central planning and public-private partnerships work the same way to stir up world wars, building nuclear weapons, and do some other nasty stuff, too, but I'm happy to report that a few people are figuring out how to eliminate all that from this once beautiful world.

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You can't demonstrate the alleged truth of "SURPLUS VALUE" theory or the labor theory of value by spelling profit as "SURPLUS VALUE" or e, x, p, l, o, i, t, a, t, i, o, n. Go read one of your many apostates, David Ramsay Steele, to educate yourself about some insoluable problems of Marxism and other species of communist idiocy. You can find a sideways introduction to the topic in

The Mystery of Fascism:

Mussolini - as he woud like to have been remembered

http://www.la-articles.org.uk/fascism.htm

Pay attention when the author discusses the Crisis of Marxism of the 1890's. It's related to the rise of superfascism in China, which is rife with corruption, esp. among party hacks and the Princelings, the descendants of the Eight Elders.

Incorporation, too, of course, is implicated in the troubles of leftwing China, and it's no secret that the institution was preserved and extended throughout the world with the connivance and help of Marxists, Leninists, etc. Funny this. There's a neo-Fascist movement throughout the "West" to establish communist dictatorships by taking over from within the corporations of the Earth.

It's by the way also that accounting has a well developed vocabulary which is adequte to describe with nuance the differences between revenues and expenses. Feel free to notice the omission of moralizing gibberish, just like a good mathematics or physics textbook would omit that gunk.

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