You are viewing a single comment's thread from:
RE: The Tragedy of the Commons
value is measured in the amount of labor it takes to produce it
energy is a 0 sum game
value is measured in the amount of labor it takes to produce it
energy is a 0 sum game
No. The labor theory of value is completely worthless. Labor is merely a factor, not the whole.
Value is measured in the satisfaction of wants for the consumer. Prices are a signal informing producers of the supply and demand of the various factors of production, including labor, another with the competing demands in the market of producers and consumers.
Political intervention in the economy is anti-market distortion that causes gluts and shortages, inflation, crony protectionism, etc.
labor itself is the only thing that ties value to objects
Nope. Not even close, and I guarantee your own actions in your own life refute your claim.