> Suppose you become politically radicalized and become a Marxist. You get convinced that the labor theory of value is correct. > The number of people in the general population who will know enough about the history and philosophy of economics to give you a clear account of why Marxism and the labor theory of value is incorrect, He's correct most people don't know about labor theory of value. Which is why it's easy f…
Equating Marxism to labor theory of value is akin to maybe equating economics to a supply/demand curve.
There are unequivocally true parts of Marxism, such as surplus value of labor, and the fundamental incentive conflict between a capital owner and laborer (which Marx deems exploitation)
The labor theory of value is also I think misinterpreted by modern economists as a price-setting mechanism, which it isn't. It's a mechanism to show that there is a certain floor on value of an economic good, which is raised every time constructive labor is applied to a product.