freeborn | ελεύθερος on Nostr: If value/price is determined by labor or work inputs, explain a drop in price. Was ...
If value/price is determined by labor or work inputs, explain a drop in price. Was there somehow "negative work"? The labor theory of value is bunk.
> It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.
-- Rothbard
Published at
2024-06-03 17:37:50Event JSON
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"content": "If value/price is determined by labor or work inputs, explain a drop in price. Was there somehow \"negative work\"? The labor theory of value is bunk. \n\n\u003e It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.\n\n-- Rothbard",
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