That’s what Marx called subjective value theory economists, as opposed to the classical economists (a term he also coined) who subscribed to the labor theory.
Now we have modern-day LTV proponents (left-libertarians) tossing the epithet “vulgar libertarian” at people who happen to be STV adherents.
Plus ça change…
Marx and the LTVers won’t be treated kindly by history. As they say, the best revenge is living well, or in the case of the STV, living intelligently.
What did Marx intend to mean by “vulgar”?
Here is the “Vulgar Economics” entry from the Dictionary of Marxist Thought.
Way2go Marx, poison that well!
Marxists just make stuff up as they go along. I think we are treating it way too much like a serious economic theory.
I also think that’s what “vulgar” means -marxism isn’t really about economic theories (what is an economy according to marx then a passing historical phenomenon?) but about unveiling value and its sociological meaning and showing how capitalism is against worker interests and hence, why capitalism will fail.To Marx, the very fact that “bourgeoise political economy” was trying to explain “the economy” showed just how shallow and “vulgar” it was.
Well according to wiki, Kevin Carson came up with the term “vulgar libertarianism” and claims that he got the term “vulger” from Marx.
The “vulgar” coinage doesn’t seem so much related to subscribing to the STV as it does go to address libertarians who defend state-built institutions or individuals with a market veil, or a function that could feasibly exist on the market, but is molested by state intervention. Perhaps many left-libs hurl the “vulgar” slur against those who utilize marginal analysis, but I don’t think it necessarily does or has to include that.
I prefer Roderick Long’s “left-conflationism” and “right-conflationism.”
I think I can sum that up pretty well.
Our theories contain fairies that don’t exist for purely ideological reasons. These other guys come up with different results because they don’t talk about the fairies. They’re “Vulgar” because they deny the existence of fairies. Therefore, we can disregard everything they say.
I swear, to call marxism the creationism of economics would be far too kind…