The Problems of Surplus Value: A Discussion with Colin Drumm

Dive into the depths of the murky waters of Marxist value theory with Colin Drumm, the founder of Mimbres School, for an enlightening exploration. We examine the labyrinth of different interpretations, their birth in a politically charged context, and the reflections of Marx's idealistic concept of a liberal economy, sans state, in his work. We unwrap Petty's theories of surplus value, shedding light on the enigma that Marx's understanding of value theory often is, and challenging your preconceived notions.Our journey extends through economic theory development and the repercussions of capitalized value and taxation. William Petty’s contribution to the transformation of surveying and his impact on the valuation of seized land is a highlight we delve into with gusto. We further explore the debates on tax proportioning post the civil war and its influence on our current comprehension of value. The discussion on Smith's theories - their influence on our perception of economic security and military strength, the Ricardo-Malthus debate on managing large permanent debt, and the birth of Keynesian theory, promises to be a riveting exploration.Lastly, we dissect and critique Marxist and MMT Economic Theories. Colin’s analysis of Marx's labor theory of value, the intricacies, and its implications on government authority and money, presents a compelling narrative. We debate the problems with our intellectual history beyond Marxism and its influence on our present understanding of economics. We conclude our conversation by questioning economic growth, its implications, power dynamics, and distribution, urging you to reassess traditional economic theories and explore alternate perspectives. Join this intellectual voyage for a fresh perspective on economics and its theories.Send us Fan Mail Musis by Bitterlake, Used with Permission, all rights to BitterlakeSupport the showCrew:Host: C. Derick VarnIntro and Outro Music by Bitter Lake.Intro Video Design: Jason MylesArt Design: Corn and C. Derick VarnLinks and Social Media:twitter: @varnvlogblue sky: @varnvlog.bsky.socialYou can find the additional streams on YoutubeCurrent Patreon at the Sponsor Tier: Jordan Sheldon, Mark J. Matthews, Lindsay Kimbrough, RedWolf, DRV, Kenneth McKee, JY Chan, Matthew Monahan, Parzival, Adriel Mixon, Buddy Roark, Daniel Petrovic,Julian, Drea, Free Beer