[asu_thomas]

Capitalism is a system in which those who control capital wield the most power, but without cheap enough labor to work the capital for a profit, capitalism will by definition give way to something else.

Realize capital has no market value without labor to work it. This goes for real estate too, which workers require to rest themselves just in time to return to work to turn a profit for those that control capital.

[ch4s3]

This is a warmed over version of labor theory of value which is at its core wrong. Value is entirely subjective and contextual, and utility is not a function of labor inputs.

Moreover high wages simply encourage innovation in labor saving devices and techniques. Tight labor markets aren’t the capitalists enemy. It’s no different than other input costs in some sense.

[asu_thomas]

Labor theory of value is literally just an argument that labor is the historical source of wealth. The terminology here is specific and intentional.

Next, Marxists recognize 2 central forms of value:

Use value is abstract, but not subjective.

Exchange value is contextual.

That's it. That's what you need to argue with, instead of your ridiculous straw men above.

Additionally, it can hardly be stressed enough how unimportant labor theory of value is for Marxism as a whole.

[hhjinks]

>but without cheap enough labor to work the capital for a profit, capitalism will by definition give way to something else

Demonstrate why this is true. What _exactly_ about the definition "private ownership of capital" necessitates that capitalism must give way if capital cannot be worked for profit by cheap labor?

[randomdata]

> Capitalism is a system in which those who control capital wield the most power

Capitalism has no concern about power. It only speaks to ownership rights.

And, as an aside, what you are envisioning clearly puts the power in the hands of labour. As you said: "Realize capital has no market value without labor to work it."

[dragonwriter]

> Capitalism has no concern about power.

Capitalism is entirely about power.

> It only speaks to ownership rights.

“Ownership rights” are power. Capitalism evolved through the mercantile class under pre-capitalist systems leveraging their then-current power to force changes in the system which durably transferred power from the land-tied aristocracy to themselves.

[Turskarama]

In what world do you think the people who own everything don't also have all the power?

You cannot decouple ownership from politics. If you own the productivity of the nation, you own the nation.

[Mechanical9]

Capitalism doesn't have to be concerned with power for it to result in those with capital holding the most power. 'Rights' that are only available to those with capital aren't really rights at all.