17.1 Labor Theory of Value vs Subjective Marginal Value || Matthew Mežinskis
Wasabi Wallet
Labor Theory of Value fails because work ≠ value: digging holes to nowhere creates no wealth just because workers are employed. Karl Menger's Austrian School insight—subjective marginal value—explains actual markets: every exchange happens because both parties prefer what they receive over what they give. Mežinskis argues consumer demand, not labor, determines producer success and prices. Value or
https://relay.towardsliberty.com/2663ae742a025cf44ac1b7dbd69c2aac299b57b896cfe38be8ff28bee9eb9ac6.mp4
Wasabi Wallet
Labor Theory of Value fails because work ≠ value: digging holes to nowhere creates no wealth just because workers are employed. Karl Menger's Austrian School insight—subjective marginal value—explains actual markets: every exchange happens because both parties prefer what they receive over what they give. Mežinskis argues consumer demand, not labor, determines producer success and prices. Value or
https://relay.towardsliberty.com/2663ae742a025cf44ac1b7dbd69c2aac299b57b896cfe38be8ff28bee9eb9ac6.mp4