mleku on Nostr: labor theory of value is utterly disproven repeatedly by multiple economists since ...
labor theory of value is utterly disproven repeatedly by multiple economists since Marx proposed this idiot idea
prices are a product of supply, what is available, and demand, what people prefer more over what they prefer less (personal scales of value)
this applies not only to goods that are consumed but goods that are intermediate in production such as labor and raw materials
ultimately the end product price has a big influence on price but money itself is another intermediate good, always intermediate, like raw materials and labor
prices are a product of supply, what is available, and demand, what people prefer more over what they prefer less (personal scales of value)
this applies not only to goods that are consumed but goods that are intermediate in production such as labor and raw materials
ultimately the end product price has a big influence on price but money itself is another intermediate good, always intermediate, like raw materials and labor