Ecoer Logo
VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
0.007USD
STEEM
0.000STEEM
SBD
0.000SBD
Effective Power
5.009SP
├── Own SP
0.124SP
└── Incoming Deleg
+4.885SP

Detailed Balance

STEEM
balance
0.000STEEM
market_balance
0.000STEEM
savings_balance
0.000STEEM
reward_steem_balance
0.000STEEM
STEEM POWER
Own SP
0.124SP
Delegated Out
0.000SP
Delegation In
4.885SP
Effective Power
5.009SP
Reward SP (pending)
0.000SP
SBD
sbd_balance
0.000SBD
sbd_conversions
0.000SBD
sbd_market_balance
0.000SBD
savings_sbd_balance
0.000SBD
reward_sbd_balance
0.000SBD
{
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "reward_steem_balance": "0.000 STEEM",
  "vesting_shares": "202.275587 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7941.384219 VESTS",
  "sbd_balance": "0.000 SBD",
  "savings_sbd_balance": "0.000 SBD",
  "reward_sbd_balance": "0.000 SBD",
  "conversions": []
}

Account Info

nameunknowntoall
id1131942
rank242,701
reputation41920747
created2018-09-06T16:06:03
recovery_accountsteem
proxyNone
post_count3
comment_count0
lifetime_vote_count0
witnesses_voted_for0
last_post2018-09-22T13:33:30
last_root_post2018-09-22T13:33:30
last_vote_time2018-09-22T13:36:09
proxied_vsf_votes0, 0, 0, 0
can_vote1
voting_power0
delayed_votes0
balance0.000 STEEM
savings_balance0.000 STEEM
sbd_balance0.000 SBD
savings_sbd_balance0.000 SBD
vesting_shares202.275587 VESTS
delegated_vesting_shares0.000000 VESTS
received_vesting_shares7941.384219 VESTS
reward_vesting_balance0.000000 VESTS
vesting_balance0.000 STEEM
vesting_withdraw_rate0.000000 VESTS
next_vesting_withdrawal1969-12-31T23:59:59
withdrawn0
to_withdraw0
withdraw_routes0
savings_withdraw_requests0
last_account_recovery1970-01-01T00:00:00
reset_accountnull
last_owner_update1970-01-01T00:00:00
last_account_update1970-01-01T00:00:00
minedNo
sbd_seconds0
sbd_last_interest_payment1970-01-01T00:00:00
savings_sbd_last_interest_payment1970-01-01T00:00:00
{
  "id": 1131942,
  "name": "unknowntoall",
  "owner": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5McRwnsuwKPGU7nFXL8mnDvYUerFh5uMGPBKAkhGDfvfs5pKV9",
        1
      ]
    ]
  },
  "active": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5GV25EP6HHs6xf5TQhkEpLJzysYZV5kUTRNGJ61kP2xWeofR3W",
        1
      ]
    ]
  },
  "posting": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM7g8xkEnHfFcnLXyVjfiQSUwTaeuPQXFmQ8P6zn6z1Abx2G1uff",
        1
      ]
    ]
  },
  "memo_key": "STM8KQEit6WKchVWz5CVYF57v53KW4EyfavLEMSCw8qUvAvsf1HnG",
  "json_metadata": "{}",
  "posting_json_metadata": "",
  "proxy": "",
  "last_owner_update": "1970-01-01T00:00:00",
  "last_account_update": "1970-01-01T00:00:00",
  "created": "2018-09-06T16:06:03",
  "mined": false,
  "recovery_account": "steem",
  "last_account_recovery": "1970-01-01T00:00:00",
  "reset_account": "null",
  "comment_count": 0,
  "lifetime_vote_count": 0,
  "post_count": 3,
  "can_vote": true,
  "voting_manabar": {
    "current_mana": "8143659806",
    "last_update_time": 1779090534
  },
  "downvote_manabar": {
    "current_mana": 2035914951,
    "last_update_time": 1779090534
  },
  "voting_power": 0,
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "sbd_balance": "0.000 SBD",
  "sbd_seconds": "0",
  "sbd_seconds_last_update": "1970-01-01T00:00:00",
  "sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_sbd_balance": "0.000 SBD",
  "savings_sbd_seconds": "0",
  "savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
  "savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_withdraw_requests": 0,
  "reward_sbd_balance": "0.000 SBD",
  "reward_steem_balance": "0.000 STEEM",
  "reward_vesting_balance": "0.000000 VESTS",
  "reward_vesting_steem": "0.000 STEEM",
  "vesting_shares": "202.275587 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7941.384219 VESTS",
  "vesting_withdraw_rate": "0.000000 VESTS",
  "next_vesting_withdrawal": "1969-12-31T23:59:59",
  "withdrawn": 0,
  "to_withdraw": 0,
  "withdraw_routes": 0,
  "curation_rewards": 0,
  "posting_rewards": 0,
  "proxied_vsf_votes": [
    0,
    0,
    0,
    0
  ],
  "witnesses_voted_for": 0,
  "last_post": "2018-09-22T13:33:30",
  "last_root_post": "2018-09-22T13:33:30",
  "last_vote_time": "2018-09-22T13:36:09",
  "post_bandwidth": 0,
  "pending_claimed_accounts": 0,
  "vesting_balance": "0.000 STEEM",
  "reputation": 41920747,
  "transfer_history": [],
  "market_history": [],
  "post_history": [],
  "vote_history": [],
  "other_history": [],
  "witness_votes": [],
  "tags_usage": [],
  "guest_bloggers": [],
  "rank": 242701
}

Withdraw Routes

IncomingOutgoing
Empty
Empty
{
  "incoming": [],
  "outgoing": []
}
From Date
To Date
steemdelegated 4.885 SP to @unknowntoall
2026/05/18 07:48:54
delegatorsteem
delegateeunknowntoall
vesting shares7941.384219 VESTS
Transaction InfoBlock #106152485/Trx 6510f2a98106f5ac068ddd06032e049d12b51e26
View Raw JSON Data
{
  "trx_id": "6510f2a98106f5ac068ddd06032e049d12b51e26",
  "block": 106152485,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-18T07:48:54",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "7941.384219 VESTS"
    }
  ]
}
steemdelegated 3.217 SP to @unknowntoall
2026/05/13 10:30:39
delegatorsteem
delegateeunknowntoall
vesting shares5229.173814 VESTS
Transaction InfoBlock #106012428/Trx 46b41406d65ecc32d775023dcb5cf25337297ec4
View Raw JSON Data
{
  "trx_id": "46b41406d65ecc32d775023dcb5cf25337297ec4",
  "block": 106012428,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-13T10:30:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "5229.173814 VESTS"
    }
  ]
}
steemdelegated 4.893 SP to @unknowntoall
2026/04/26 06:58:45
delegatorsteem
delegateeunknowntoall
vesting shares7953.899975 VESTS
Transaction InfoBlock #105519931/Trx 1daeeae97ea58ec267d6957e58bf39e827d4009c
View Raw JSON Data
{
  "trx_id": "1daeeae97ea58ec267d6957e58bf39e827d4009c",
  "block": 105519931,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-04-26T06:58:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "7953.899975 VESTS"
    }
  ]
}
steemdelegated 3.242 SP to @unknowntoall
2026/01/24 04:06:51
delegatorsteem
delegateeunknowntoall
vesting shares5270.720633 VESTS
Transaction InfoBlock #102876135/Trx 11b1ec1c82271ff7b4c507677f3a298fa2a0b9cf
View Raw JSON Data
{
  "trx_id": "11b1ec1c82271ff7b4c507677f3a298fa2a0b9cf",
  "block": 102876135,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-01-24T04:06:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "5270.720633 VESTS"
    }
  ]
}
steemdelegated 3.343 SP to @unknowntoall
2024/12/17 23:15:27
delegatorsteem
delegateeunknowntoall
vesting shares5434.939830 VESTS
Transaction InfoBlock #91322328/Trx bacc1e5846ee9f1ad93e0d9276ae7c73fe8545cf
View Raw JSON Data
{
  "trx_id": "bacc1e5846ee9f1ad93e0d9276ae7c73fe8545cf",
  "block": 91322328,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2024-12-17T23:15:27",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "5434.939830 VESTS"
    }
  ]
}
steemdelegated 3.447 SP to @unknowntoall
2023/11/14 14:54:00
delegatorsteem
delegateeunknowntoall
vesting shares5604.073362 VESTS
Transaction InfoBlock #79876413/Trx c2f07a0d1adb437128bde8f8516b076132520c1d
View Raw JSON Data
{
  "trx_id": "c2f07a0d1adb437128bde8f8516b076132520c1d",
  "block": 79876413,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-11-14T14:54:00",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "5604.073362 VESTS"
    }
  ]
}
steemdelegated 5.254 SP to @unknowntoall
2023/09/22 12:10:57
delegatorsteem
delegateeunknowntoall
vesting shares8540.982148 VESTS
Transaction InfoBlock #78365006/Trx 84c1228e71a13708d288729d44aa63eaf4c3ebfc
View Raw JSON Data
{
  "trx_id": "84c1228e71a13708d288729d44aa63eaf4c3ebfc",
  "block": 78365006,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-09-22T12:10:57",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "8540.982148 VESTS"
    }
  ]
}
steemdelegated 5.390 SP to @unknowntoall
2022/11/03 19:26:21
delegatorsteem
delegateeunknowntoall
vesting shares8763.033586 VESTS
Transaction InfoBlock #69122501/Trx 250d51099250aeecb77a84524302cd830eb0bf68
View Raw JSON Data
{
  "trx_id": "250d51099250aeecb77a84524302cd830eb0bf68",
  "block": 69122501,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-11-03T19:26:21",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "8763.033586 VESTS"
    }
  ]
}
steemdelegated 5.526 SP to @unknowntoall
2022/01/18 00:29:24
delegatorsteem
delegateeunknowntoall
vesting shares8983.141187 VESTS
Transaction InfoBlock #60825573/Trx 4efd613f7eb063e43412a9ed27f38305ce9bd567
View Raw JSON Data
{
  "trx_id": "4efd613f7eb063e43412a9ed27f38305ce9bd567",
  "block": 60825573,
  "trx_in_block": 13,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-01-18T00:29:24",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "8983.141187 VESTS"
    }
  ]
}
steemdelegated 5.639 SP to @unknowntoall
2021/06/14 07:36:36
delegatorsteem
delegateeunknowntoall
vesting shares9167.335475 VESTS
Transaction InfoBlock #54615818/Trx 2e88ccb22ba41aa2470032e302e0829423263745
View Raw JSON Data
{
  "trx_id": "2e88ccb22ba41aa2470032e302e0829423263745",
  "block": 54615818,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-06-14T07:36:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "9167.335475 VESTS"
    }
  ]
}
steemdelegated 5.754 SP to @unknowntoall
2020/12/11 17:47:24
delegatorsteem
delegateeunknowntoall
vesting shares9354.757449 VESTS
Transaction InfoBlock #49363033/Trx 39bd0f96a43f93ced95e2f364d9128e5271eda49
View Raw JSON Data
{
  "trx_id": "39bd0f96a43f93ced95e2f364d9128e5271eda49",
  "block": 49363033,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-11T17:47:24",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "9354.757449 VESTS"
    }
  ]
}
steemdelegated 1.176 SP to @unknowntoall
2020/12/06 11:22:36
delegatorsteem
delegateeunknowntoall
vesting shares1912.543513 VESTS
Transaction InfoBlock #49214548/Trx 67344e7ad9f0fddd9a2c0ff5acc06c7d4982b01e
View Raw JSON Data
{
  "trx_id": "67344e7ad9f0fddd9a2c0ff5acc06c7d4982b01e",
  "block": 49214548,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-06T11:22:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "1912.543513 VESTS"
    }
  ]
}
steemdelegated 5.758 SP to @unknowntoall
2020/12/05 21:25:15
delegatorsteem
delegateeunknowntoall
vesting shares9360.965303 VESTS
Transaction InfoBlock #49198117/Trx 1e3a1d7c9232aeee2445eeb55c499de37cb1e2e0
View Raw JSON Data
{
  "trx_id": "1e3a1d7c9232aeee2445eeb55c499de37cb1e2e0",
  "block": 49198117,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-05T21:25:15",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "9360.965303 VESTS"
    }
  ]
}
steemdelegated 1.181 SP to @unknowntoall
2020/11/03 05:25:24
delegatorsteem
delegateeunknowntoall
vesting shares1920.017158 VESTS
Transaction InfoBlock #48274029/Trx 87d494541a629ff04b09446473afdf9576672e5f
View Raw JSON Data
{
  "trx_id": "87d494541a629ff04b09446473afdf9576672e5f",
  "block": 48274029,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-11-03T05:25:24",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "1920.017158 VESTS"
    }
  ]
}
steemdelegated 5.883 SP to @unknowntoall
2020/05/09 12:27:03
delegatorsteem
delegateeunknowntoall
vesting shares9563.770662 VESTS
Transaction InfoBlock #43224899/Trx 3bf88802a76aea9aadf94c550a03b07d27a6b3a9
View Raw JSON Data
{
  "trx_id": "3bf88802a76aea9aadf94c550a03b07d27a6b3a9",
  "block": 43224899,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-09T12:27:03",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "9563.770662 VESTS"
    }
  ]
}
steemdelegated 1.202 SP to @unknowntoall
2020/05/08 17:03:30
delegatorsteem
delegateeunknowntoall
vesting shares1953.311140 VESTS
Transaction InfoBlock #43202173/Trx d69dacdc816d728a67bd69738af844f11db45650
View Raw JSON Data
{
  "trx_id": "d69dacdc816d728a67bd69738af844f11db45650",
  "block": 43202173,
  "trx_in_block": 15,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-08T17:03:30",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "1953.311140 VESTS"
    }
  ]
}
steemdelegated 5.940 SP to @unknowntoall
2019/11/25 09:27:30
delegatorsteem
delegateeunknowntoall
vesting shares9655.954545 VESTS
Transaction InfoBlock #38479997/Trx 7ead382f262d49b265ccc8ae76607316bf48d8e3
View Raw JSON Data
{
  "trx_id": "7ead382f262d49b265ccc8ae76607316bf48d8e3",
  "block": 38479997,
  "trx_in_block": 23,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2019-11-25T09:27:30",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "unknowntoall",
      "vesting_shares": "9655.954545 VESTS"
    }
  ]
}
2019/09/06 17:10:45
parent authorunknowntoall
parent permlinkthe-labour-theory-of-value-is-absurd
authorsteemitboard
permlinksteemitboard-notify-unknowntoall-20190906t171045000z
title
bodyCongratulations @unknowntoall! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@unknowntoall/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@unknowntoall) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=unknowntoall)_</sub> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
json metadata{"image":["https://steemitboard.com/img/notify.png"]}
Transaction InfoBlock #36190232/Trx 7a5bef74598d2f2e44d11097e0b1c1992440b347
View Raw JSON Data
{
  "trx_id": "7a5bef74598d2f2e44d11097e0b1c1992440b347",
  "block": 36190232,
  "trx_in_block": 5,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2019-09-06T17:10:45",
  "op": [
    "comment",
    {
      "parent_author": "unknowntoall",
      "parent_permlink": "the-labour-theory-of-value-is-absurd",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-unknowntoall-20190906t171045000z",
      "title": "",
      "body": "Congratulations @unknowntoall! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@unknowntoall/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@unknowntoall) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=unknowntoall)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}"
    }
  ]
}
steemdelegated 6.061 SP to @unknowntoall
2018/12/22 13:48:27
delegatorsteem
delegateeunknowntoall
vesting shares9853.149442 VESTS
Transaction InfoBlock #28787889/Trx ec356f81efe082194fde8a1ee575c896126b22a8
View Raw JSON Data
{
  "trx_id": "ec356f81efe082194fde8a1ee575c896126b22a8",
  "block": 28787889,
  "trx_in_block": 37,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-12-22T13:48:27",
  "op": [
    "delegate_vesting_shares",
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2018/09/22 13:36:09
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2018/09/22 13:33:51
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2018/09/22 13:33:39
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2018/09/22 13:33:30
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body<img src="https://proxy.duckduckgo.com/iu/?u=https%3A%2F%2Fupload.wikimedia.org%2Fwikipedia%2Fcommons%2Fthumb%2Fd%2Fd4%2FKarl_Marx_001.jpg%2F1200px-Karl_Marx_001.jpg&amp;f=1" alt="Karl Marx - Wikipedia"/>![](https://cdn.steemitimages.com/DQmbMmtdnFzfrRankTxuubV5MD4jYxk8hPwYAitsR61ebe8/image.png) This is a simplified Bohm Bawerk argument “The value of one commodity is to the value of any other, as the labour time necessary for the production of the one is to that necessary for the production of the other. “As values, all commodities are only definite masses of congealed labour time.” Capital volume 1 chapter 1 So from this you could make the equation V = L Where V is the exchange value of a good and L is the quantity of labour that goes into it Obviously this is wrong and Marx knows this, a 1 hour of a doctors time has much more exchange value than 1 hour of a cleaners time. So we get this clarification in chapter 2: “Skilled labour counts only as simple labour intensified, or rather, as multiplied simple labour” So the equation V = S*L Where S is how skilled the labour is. This seems to work but there is a problem here. We can use this line of logic to prove lots of things now let L represent the weight of the commodity and S how special the weight is. The equation still works. Putting this into the Marxian phraseology we would get. “The value of one commodity is to the value of any other, as the weight of the commodity of the one is to the weight of the other. “As values, all commodities are only definite masses” And “Special weight counts only as simple weight intensified, or rather, as multiplied simple weight” That would still be a valid equation, and indeed you could follow this line of logic for volume, oxygen expended or just about anything else. Indeed you could even say that the exchange value is equal to the amount of profit made with some profit counting as special profit. V = Profit*how special that profit is And then write a volume of literature on how the workers exploit the capitalists. (that last point might be a bit of a stretch). This doesn’t actually refute the exploitation doctrine you could still argue that workers are exploited, but applying the logic of LTV to other aspects of a commodity gives clearly absurd results. All credit goes to Bohm Bawerk who did a much better job of explaining it that I did in “Marx and the close of his system”.
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      "body": "<img src=\"https://proxy.duckduckgo.com/iu/?u=https%3A%2F%2Fupload.wikimedia.org%2Fwikipedia%2Fcommons%2Fthumb%2Fd%2Fd4%2FKarl_Marx_001.jpg%2F1200px-Karl_Marx_001.jpg&amp;f=1\" alt=\"Karl Marx - Wikipedia\"/>![](https://cdn.steemitimages.com/DQmbMmtdnFzfrRankTxuubV5MD4jYxk8hPwYAitsR61ebe8/image.png)\nThis is a simplified Bohm Bawerk argument \n“The value of one commodity is to the value of any other, as the labour time necessary for the production of the one is to that necessary for the production of the other. “As values, all commodities are only definite masses of congealed labour time.”\nCapital volume 1 chapter 1\nSo from this you could make the equation V = L\nWhere V is the exchange value of a good and L is the quantity of labour that goes into it\nObviously this is wrong and Marx knows this, a 1 hour of a doctors time has much more exchange value than 1 hour of a cleaners time.\nSo we get this clarification in chapter 2:\n“Skilled labour counts only as simple labour intensified, or rather, as multiplied simple labour”\nSo the equation V = S*L\nWhere S is how skilled the labour is.\nThis seems to work but there is a problem here.\n\nWe can use this line of logic to prove lots of things now let L represent the weight of the commodity and S how special the weight is. The equation still works. Putting this into the Marxian phraseology we would get.\n“The value of one commodity is to the value of any other, as the weight of the commodity of the one is to the weight of the other. “As values, all commodities are only definite masses”\nAnd \n“Special weight counts only as simple weight intensified, or rather, as multiplied simple weight”\n\nThat would still be a valid equation, and indeed you could follow this line of logic for volume, oxygen expended or just about anything else.\nIndeed you could even say that the exchange value is equal to the amount of profit made with some profit counting as special profit.\n\nV = Profit*how special that profit is\nAnd then write a volume of literature on how the workers exploit the capitalists.\n(that last point might be a bit of a stretch).\n \n\nThis doesn’t actually refute the exploitation doctrine you could still argue that workers are exploited, but applying the logic of LTV to other aspects of a commodity gives clearly absurd results.\n\nAll credit goes to Bohm Bawerk who did a much better job of explaining it that I did in “Marx and the close of his system”.",
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2018/09/22 13:31:51
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2018/09/22 13:31:45
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2018/09/21 08:05:21
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2018/09/21 08:05:21
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bodyTo the question in your title, my Magic 8-Ball says:<blockquote>Outlook not so good</blockquote><hr>*Hi! I'm a bot, and this answer was posted automatically. Check [this post out](https://steemit.com/introduceyourself/@magic8ball/introducing-the-magic-8-ball-bot) for more information.*
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2018/09/21 08:05:18
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unknowntoallpublished a new post: are-workers-exploited
2018/09/21 08:05:12
parent author
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authorunknowntoall
permlinkare-workers-exploited
titleAre workers exploited?
bodyThere are two types of profit: Entrepreneurial profit, the reward for coming up with new ideas and taking risks implementing them, I don't think anyone thinks this type of profit is exploitation. Capitalist profit: reward for owning capital which is what I think Marxists see as exploitation. Ignoring inflation would you rather have £100 today or next year? If you said today you can skip the next paragraph. It is currently possible to get fixed rate bonds that have a yield greater than the rate of inflation. Therefore by consuming something today, you are sacrificing the ability to consume more in the future. Therefore people who given a free choice pick consumption today prefer consumption of less today than consumption of more in 5 of 6 years time. Furthermore, by owning a piece of land it is possible to hire some labour to produce an amount of saleable food with greater proceeds than the cost of labour. This way over an infinite period of time you could get infinite income from a given piece of land therefore if a time preference didn't exist land would sell at an infinite price (time preference is preferring something now than something later) which is obviously impossible so the land would only be sold against other lands. But since land has a finite price a time preference must exist. As to why such a preference exists that is a question of phycology. So let's say I would rather have £100 now than £105 next year but you would rather have £105 next year than £100 this year we would benefit from you giving me £100 now in exchange for £105 next year. Now let us imagine that a capitalist builds a steel mill costing £1 million that will last 11 years and produce £1.1 million a year of which £1 million a year is paid in wages. Are the workers exploited to the tune of £100,000? No, they are not because the capitalist pays the £1 million NOW and must wait for the profit and as we learned two paragraphs ago money now is more valuable than money later. Meanwhile, from the worker's point of view, they are saved from paying the £1 Million now and in exchange lose a yearly instalment of £100,000 for 11 years. From the point of view of the workers this is a preferable position, if it wasn't they would have built the factory or paid for its construction themselves. They prefer £1million now to £100,000 yearly for 11 years, this is because as established before Money now is more valuable than money later. The capitalist in this scenario has there preferences in the opposite order and prefers £100,000 per year for 11 years to £1 million now. It is vain to say that this is wrong since the capitalists have more wealth than the workers so the workers couldn't afford to build the factory since even in the imaginary construction of a zero point where everyone has equal wealth and incomes different time preferences would almost certainly exist and through the process of time and voluntary payments of interest a capitalist system like we have today would evolve. It is also vain to attempt to refute this idea using the labour theory of value since the ideas expounded here necessarily refute LTV and so to reference it in a refutation would be circular logic. (X is wrong because Y, Y is correct because X is wrong).
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      "body": "There are two types of profit:\nEntrepreneurial profit, the reward for coming up with new ideas and taking risks implementing them, I don't think anyone thinks this type of profit is exploitation.\nCapitalist profit: reward for owning capital which is what I think Marxists see as exploitation.\n\nIgnoring inflation would you rather have £100 today or next year?\nIf you said today you can skip the next paragraph.\n\nIt is currently possible to get fixed rate bonds that have a yield greater than the rate of inflation. Therefore by consuming something today, you are sacrificing the ability to consume more in the future. Therefore people who given a free choice pick consumption today prefer consumption of less today than consumption of more in 5 of 6 years time. Furthermore, by owning a piece of land it is possible to hire some labour to produce an amount of saleable food with greater proceeds than the cost of labour. This way over an infinite period of time you could get infinite income from a given piece of land therefore if a time preference didn't exist land would sell at an infinite price (time preference is preferring something now than something later) which is obviously impossible so the land would only be sold against other lands. But since land has a finite price a time preference must exist. As to why such a preference exists that is a question of phycology.\n\nSo let's say I would rather have £100 now than £105 next year but you would rather have £105 next year than £100 this year we would benefit from you giving me £100 now in exchange for £105 next year.\n\nNow let us imagine that a capitalist builds a steel mill costing £1 million that will last 11 years and produce £1.1 million a year of which £1 million a year is paid in wages. Are the workers exploited to the tune of £100,000? No, they are not because the capitalist pays the £1 million NOW and must wait for the profit and as we learned two paragraphs ago money now is more valuable than money later. Meanwhile, from the worker's point of view, they are saved from paying the £1 Million now and in exchange lose a yearly instalment of £100,000 for 11 years. From the point of view of the workers this is a preferable position, if it wasn't they would have built the factory or paid for its construction themselves. They prefer £1million now to £100,000 yearly for 11 years, this is because as established before Money now is more valuable than money later. The capitalist in this scenario has there preferences in the opposite order and prefers £100,000 per year for 11 years to £1 million now.\n\nIt is vain to say that this is wrong since the capitalists have more wealth than the workers so the workers couldn't afford to build the factory since even in the imaginary construction of a zero point where everyone has equal wealth and incomes different time preferences would almost certainly exist and through the process of time and voluntary payments of interest a capitalist system like we have today would evolve.\n\nIt is also vain to attempt to refute this idea using the labour theory of value since the ideas expounded here necessarily refute LTV and so to reference it in a refutation would be circular logic. (X is wrong because Y, Y is correct because X is wrong).",
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2018/09/11 20:06:51
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body @unknowntoall, I gave you a vote!<br>If you follow me, I will also follow you in return!<br>Enjoy some !popcorn courtesy of @nextgencrypto!
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2018/09/11 20:06:48
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2018/09/11 20:06:45
parent author
parent permlinkeconomics
authorunknowntoall
permlinkthe-diamond-and-water-paradox-and-the-law-of-diminishing-marginal-utility
titleThe diamond and water paradox and the law of diminishing marginal utility
bodyWater is more useful than diamonds so why are diamonds more expensive than water? Surely people would pay more for diamonds than water. This is the diamond and water paradox and I will attempt to answer this question at the end of my post. Let us imagine that there is a barn with 5 animals; 3 horses and 2 cows, there is now a fire and you only have time to save 4, what do you save? Well in order to do that you have to list out how useful each animal is. So in this hypothetical scenario, your usefulness is in this order. 1) horse for ploughing the field 2) horse to act as backup for heavy equipment 3) cow for milk 4) cow for meat 5) a horse for pleasure riding. (We assume that all horses are identical and so are the cows) The answer should be obvious from this list, you let one of the horses die. But something interesting to note here is that even though horses may be more useful on average than cows you still sacrifice the horse as what is important is not average but marginal utility. The marginal utility is the value that someone assigns to the last unit of a good so in this example, the marginal utility of a horse is the value of the last horse. In economics, there is something called the law of diminishing marginal utility which states that as the quantity of a good you have the value of the last unit of that good falls, provided that the goods are used to serve independent uses. Why is this? Well, when you are given the first unit of a good you allocate it to serve your most valued want that can be satisfied with that good, the second unit to serve the second most valuable want etc... And so the value that you attach to each new unit is lower than the value of the unit that came before. This is an interesting idea because you won't pay for something based on the average utility of the good but on the utility of the last unit of the good. Let us say that good A has an average usefulness to you equal to $10 but the value of the last one that you buy is only $5, would you pay $10 for the last unit? of course not since it's only worth $5 to you. The inverse is also true, if the price was $4 then you wouldn't stop where the utility of the last unit is $5 since buying another would be worth more than the $4 paid and so you would buy more until the value of the last (or marginal) unit was equal to $4. If the marginal utility less than $4 to you, you would buy less until it was worth $4 and if it was worth more you would buy more until the marginal utility was equal to $4. Here we get another law of economics: the price of a good is equal to its marginal utility (measured in dollars). Now we are equipped to answer the diamond and water paradox: the average utility of water may be higher than a diamond but the marginal utility of water (the utility of the last unit sold) is less than the marginal utility of a diamond. just think how much you value the least valued litre of water that you use. Economist Eugen Böhm von Bawerk was one of the first people to come up with this idea in part of what is known as the marginal revolution.
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      "body": "Water is more useful than diamonds so why are diamonds more expensive than water? Surely people would pay more for diamonds than water. This is the diamond and water paradox and I will attempt to answer this question at the end of my post.\n\nLet us imagine that there is a barn with 5 animals; 3 horses and 2 cows, there is now a fire and you only have time to save 4, what do you save? Well in order to do that you have to list out how useful each animal is.\nSo in this hypothetical scenario, your usefulness is in this order.\n1) horse for ploughing the field\n2) horse to act as backup for heavy equipment\n3) cow for milk\n4) cow for meat\n5) a horse for pleasure riding.\n(We assume that all horses are identical and so are the cows)\nThe answer should be obvious from this list, you let one of the horses die. But something interesting to note here is that even though horses may be more useful on average than cows you still sacrifice the horse as what is important is not average but marginal utility.\n\nThe marginal utility is the value that someone assigns to the last unit of a good so in this example, the marginal utility of a horse is the value of the last horse.\n\nIn economics, there is something called the law of diminishing marginal utility which states that as the quantity of a good you have the value of the last unit of that good falls, provided that the goods are used to serve independent uses.\n\nWhy is this? Well, when you are given the first unit of a good you allocate it to serve your most valued want that can be satisfied with that good, the second unit to serve the second most valuable want etc...\nAnd so the value that you attach to each new unit is lower than the value of the unit that came before.\nThis is an interesting idea because you won't pay for something based on the average utility of the good but on the utility of the last unit of the good. Let us say that good A has an average usefulness to you equal to $10 but the value of the last one that you buy is only $5, would you pay $10 for the last unit? of course not since it's only worth $5 to you. The inverse is also true, if the price was $4 then you wouldn't stop where the utility of the last unit is $5 since buying another would be worth more than the $4 paid and so you would buy more until the value of the last (or marginal) unit was equal to $4. If the marginal utility less than $4 to you, you would buy less until it was worth $4 and if it was worth more you would buy more until the marginal utility was equal to $4.\nHere we get another law of economics: \nthe price of a good is equal to its marginal utility (measured in dollars).\n\nNow we are equipped to answer the diamond and water paradox: the average utility of water may be higher than a diamond but the marginal utility of water (the utility of the last unit sold) is less than the marginal utility of a diamond. just think how much you value the least valued litre of water that you use.\n\nEconomist Eugen Böhm von Bawerk was one of the first people to come up with this idea in part of what is known as the marginal revolution.",
      "json_metadata": "{\"tags\":[\"economics\",\"utility\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
    }
  ]
}
steemdelegated 18.539 SP to @unknowntoall
2018/09/06 17:58:15
delegatorsteem
delegateeunknowntoall
vesting shares30138.959143 VESTS
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View Raw JSON Data
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steemcreated a new account: @unknowntoall
2018/09/06 16:06:03
fee0.100 STEEM
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Transaction InfoBlock #25726715/Trx 81c5019e1511947e49c8606ae286c4cc23e830d8
View Raw JSON Data
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Account Metadata

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Auth Keys

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Public Keys
STM5McRwnsuwKPGU7nFXL8mnDvYUerFh5uMGPBKAkhGDfvfs5pKV91/1
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Public Keys
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Public Keys
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Memo
STM8KQEit6WKchVWz5CVYF57v53KW4EyfavLEMSCw8qUvAvsf1HnG
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[]