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What is Marx's labor theory of value?

Gabriel Davis | 2023-06-10 04:42:28 | page views：1861
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Charlotte Rodriguez

Studied at Harvard University, Lives in Cambridge, MA
The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of "socially necessary labor" required to produce it, rather than by the use or pleasure its owner gets from it (demand) and its scarcity value (supply).
2023-06-12 04:42:28
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Noah Wilson

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The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of "socially necessary labor" required to produce it, rather than by the use or pleasure its owner gets from it (demand) and its scarcity value (supply).
Labor theory of value - Wikipedia
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