Comment: Careful!

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In reply to comment: Gold has intrinsic value (see in situ)


Never say that something has value because it took labor to produce it. This is the Marxist labor theory of value and has been debunked many years ago.

If 100 workers mine caves for rat poop and they try to sell it, but no one buys it -- may the workers claim that the poop has value because it took 1,000 man hours to produce it?

No - because value is subjective.