I’m unskilled at economics, so I may well be missing something, but this explanation doesn’t sit well with me. I think it’s because I’m not sure how well Marxian economics applies to the current conditions; As part of a university scholarship, I had to do an internship somewhere exceedingly corporate, and I was aghast at how there were entire divisions whose functions seemed to produce nothing of real value, just more metrics and dashboards and spreadsheets. I imagine people more learned than I have applied Marxian economics to problems like that, but trying to reconcile that situation with any notion of “value” makes my head hurt.

To be clear, I’m a big fan of Marx, even if I haven’t the patience for parsing economics definitions.