The irony is that in early liberal economic philosophy, LTV was considered common sense. A hunk of metal does not obtain the value associated with a fork until someone manipulates the metal into a fork. It wasn’t until Marx took LTV to its logical conclusion that they invented marginal theory to create the narrative that ownership is injecting value somewhere along the way.
The irony is that in early liberal economic philosophy, LTV was considered common sense. A hunk of metal does not obtain the value associated with a fork until someone manipulates the metal into a fork. It wasn’t until Marx took LTV to its logical conclusion that they invented marginal theory to create the narrative that ownership is injecting value somewhere along the way.