The Daily Paul has been archived. Please see the continuation of the Daily Paul at Popular

Thank you for a great ride, and for 8 years of support!

Comment: Joe

(See in situ)

In reply to comment: Please (see in situ)


Labor Theory of Value

Usually the Labor Theory of Value is associated with Marx who emphasized labor as the sole component of value.

(Note: If you could distinguish more clearly between quotes from Josiah Warren and your own words that would be great.) I like Warren's take on Individuality and Sovereignty of the Individual, but not his economic solution.

#1 I disagree with Warren's 'Cost as the Limit of Price' idea. (Tucker may have believed in similar ideas)

It is contradictory to the Austrian economic school of thought to have an objective theory of value such as the 'Cost as the Limit of Price' idea. As I stated previously in response to another post:"It seems to me people who focus on labor theory of value don't realize the value of intellectual capital in capitalism /free market process. Just because I grow oranges doesn't mean there is some objective value in them that I deserve to get. There's subjective value in them (Mises). Hence if I sell oranges for $3 a pound to a merchant who turns around and sells it for $5 a pound to someone else that is not 'theft' as some anarcho-leftists may claim. The merchant is just identifying people who would buy oranges for $5 a pound instead of $2 a pound. Furthermore there's sales/marketing, logistics/distribution, research & development, operations/product development etc that all add value to products. Ultimately if you agree voluntarily to sell oranges at $3 a pound instead of trying yourself or hiring a sales team to get a higher price price that's too bad. Next time just try to find a higher price for your oranges or just keep them. It was a voluntary exchange. The free market is really simple."

9-11 Media Fakery: Did anyone die on 9-11?

9-11 Actors:

Pysops.. media.. actors.. propagandists... disinfo agents.. fake videos.. fake photos