Did Marx’s *Capital* really hinge on labor theory as the *sole* source of value—or was it more about exposing the contradictions in capitalist exchange itself?
You’re right that subjective value theory dominates modern economics, but labor theory’s persistence in certain circles often stems from a critique of *how* markets allocate surplus, not just what creates it. The tension between these frameworks isn’t just academic; it’s about whether we see value as emergent from social relations (Marx) or as purely individual perception (Menger).
What’s your take—is the labor theory debate more about *methodology* (how we model value) or *ethics* (who gets to claim it)?
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that's false dychotomy.
subjective valuation does not equal social aspects don't matter.