Marsolism Theory of Growth.part three

With the emergence of artificial intelligence AI era the Marxian value of surplus appreciate exponentially at the same to depreciate exponentially to denote that in the long run the Marxian theory of surplus value is now tabulated to indicate the marsolist theory of surplus value or robotic theory of surplus value.It means robot no more man is now the creator of surplus value a supremacy that Marx  once claimed belong to mankind.

Neomarsolist growth models redresses this imperialism uncovered by marxism.

It is apparently clear old established practices and tenets embedded in the Smithian, Ricardian and Marxian theories of value may no longer applies and labor cost might reduce exponentially to a fraction.

Economists often conclude the optimal value of a commodity is often incorporated in the proportion of labour hours used to produce the commodity .That goods were exchanged in the marketplace for certain relative prices based on the proportion of its labor hours.The labor value the amount of labor used to produce economic goods better explains the value of the commodity.Such relative prices between goods tends toward natural price and natural price explains relative amount of labor that goes into the commodity production.The theory took over dominance shortly from the subjective theory of labour prior to reprisal of subjectivity in regaining control.The ancient Greeks possibly Egyptian and later medieval philosophers coined the labour theory .The reining subjective theory assume values arise from ratio of human perception of usefulness and the exchange value is based on human accepted prejudice based on the individual subjective evaluation of the use value of economic goods.

When Smith and Ricardo began research their thoughtful experiments they used the ancient thought as point of departure at time the concept of capital was not well developed.That the value of commodity is tied in the amount of labor used to produce it.For instance if takes 20 hours to hunt a beaver and ten hours to hunt a deer they conclude one beaver could exchange for two deer.This indicates both equal 20 units of labor time and cost of production is the direct hunting cost on the open fields.Not excluding indirect cost as production implements like trap,to catch the beaver,bow and arrow for hunting.Like 12 hours to make beaver trap 8 hours for hunting amount to 20 labour time hours and with $11 per hour, then $220hrs for 20hours of labour time.Unlike deer cost analysis of bow and arrow for 4hours and hunting time hours  making total of 10 hours and $9 per hour and $180 for 10 hours of labour time. People will move out of deer production into beaver production initially due to more profits from the beaver production.Based on the equilibrium ratio of 2:1 in term of labour time .

Now Smith now apply market forces the law of demand and supply to this analysis especially demand for beaver and supply for beaver production moving away from deer production.Too much demand makes the price of beaver to fall in the near future perhaps due to inadequate beaver production may switch adventure in favour of deer once again or producers may find it hard to get adequate supply due to prolonged labor time.As income of beaver products drop below $10 the income of deer producers rises to $10 and people move away from beaver into favor of once neglected deer balancing the market equilibrium.Regardless of market forces as a center of gravity the market equilibrium acts as center of gravity and this is how labor keep swinging to determine the true value of commodity.

When Marx came he spotted the imperialistic nature of labour exploitation by capitalists to launch scathing remarks against the free market classical school of Adam Smith generation.If labour determines the overall value of commodity he argues the capitalists wouldn't have made enough profits beyond their casuistry at exploiting their workforce.This led to his evolution of exploitation theory of capitalism.Later critiques of labour theory had added use value and exchange value of commodity.

The rise of cryptocurrency, robotics technology and artificial intelligence era in the era of web 3 could change everything mankind never envisaged as stipulated in neoclassical marsolism .This could end imperialism Marx lamented decades ago in the Marxian theory of surplus value that man is the ultimate creator of surplus value exploited by capitalists.Neomarsolism theorised the end of neocolonialism and the gap between poor nations and rich nations could evanesce and global poverty stop.

The question is : Would the demand for human labor not retired by to robotic labor?Of course no doubt human labor highly inefficient human labor is going into extinction beyond mere oversight functions for regulatory obligation.