TrueValueMetrics ... Impact Accounting for the 21st Century

Date: 2025-08-21 Page is: DBtxt003.php txt00028083

THE SOCIO-ENVIRO-ECONOMIC SYSTEM (SEES)
and
TrueValueMetrics (TVM)
Thoughts on how accountancy and economics
need to adjust to have future relevance and utility.

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SECTION 23
SOME KEY LESSONS FROM
MARX'S KAPITAL
Version 1 ... February 2025

Enterprises and replaces them with state-owned and operated so that indeed the whole 20th
century is an endless debate between the private and the public capitalism United
States private versus socialism Soviet Union
public what we concluded make a long story short what we

Some Key Lessons from Marx’s Kapital

3:15:27
concluded was that Marx's Insight was not
primarily about public versus private to say the thing bluntly so the idea gets
across Marx didn't give a crap whether the in production was done by private a
public that's surprising to me that that's not what if you look through
the three volumes of capital which is really the mature work that he leaves I mean lots of other valuable stuff but

3:16:00
that's the core those three and one day you and I are going to go over that in detail absolutely I spend most of my
adult life teaching that as a as a Prof I've taught people volumes 1 two and
three of capital so for those that are interested if if if you find what I have to say about the
American economy interesting this may trouble you I'm
just applying Marxist economics don't thank me it's
Marx and if that's new and interesting to you I'm pleased but it tells us more
about what you didn't learn in your life than anything else that's been there for allall anyway if you look at volume one
which is the only of the three volumes that marks himself actually wrote volumes 2 and three occurred after Marx
was dead and gone was put together Volume Two by his colleague Frederick
Engles and volume three because rles was then dead by a German Marxist who came

3:17:02
after them named Carl kowsky so because I teach this stuff I know this stuff
right so volume one what Marx lays out there is a
critique of the capitalist way of organizing an
Enterprise not whether it's state or Pro you will not find in capital anything
about that it's not about whether state or private is better or worse this way
that that's not Mark's not interested in that never was barely wrote about the
state his work was what in capital focused on the
Enterprise if I wanted to use modern language I'd say Marx is a crit critic
of the microeconomic level of capitalism not so much the macro the micro what

3:18:02
goes on in the Enterprise and his argument there is that the capitalist
Enterprise is governed by defined by the Ju position the the relationship
between the folks who run the Enterprise the owner the top manager the board of
directors if you have a corporate form and the mass of employees that this relationship of
capitalism demonstrates that it didn't make the break from slavery and
feudalism that it thought it did Master Slave Lord surf
employer employee and that the root of the problems of capitalism are right there
that's a problem the that way of organizing

3:19:01
creates hostility animosity introduces
inefficiency on a staggering basis and then it blows
up and so if you want to make a transition from capitalism to something
really different you have to do it at the level of the Enterprise not that you don't talk about
public and private that's fine Collective individual all that that's perfectly part of a story you better
include the core and the core is have you been willing and now I'm going to
use language for Americans to point hard are you a Democrat with a small D or are
you not do you believe in democracy or do you not because if you do it has to
start in the Enterprise one person one vote everybody in the business has an

3:20:02
equal say in what happens because you're all affected by the decisions what to
produce how to produce where to produce and what to do with the product you're all affected in an Enterprise by those
decisions but in capital ISM you're excluded if you're an employee from making them those are made by the
employer as they were in fism and slavery by Lord and
Master therefore the core of socialism would have to include whatever
else it is the transformation of the Enterprise from the capitalist
hierarchical system to a worker Co-op system that was not done in Russ Russia
and it wasn't done in China either so that's the issue that's what's going to be fought
out this Century that question speaking of this Century we're we're nearing the

3:21:02
end of our conversation so I wanted to shift back toward what we can expect
going forward and I think in our last conversations our last two conversations
we've used this word prognosticator uh soothsayer and we've agreed that you're not a prognosticator
you're not a soothsayer but you do have a nor is anyone else nor is anyone else but you have a tremendous wealth of
historical information economical information and if anything gives us a hint about what's to come it's well
those are two of those things so I'm wondering maybe with particular reference to China to Donald Trump to
other Global states of Affairs what are you expecting out of the next four
years um what I'm expecting and I want to underscore I mean you're quite right but I want to