Of course, the labor theory of value is false. I can expend enormous amounts of energy engaging in the labor of banging pots and pans together. At the end of

Of course, the labor theory of value is false. I can expend enormous amounts of energy engaging in the labor of banging pots and pans together. At the end of the day, I am left only with dented pots and pans. No wealth has been created; in fact, some total wealth may have been lost, as the value of the cutlery has been diminished by damage. Wealth is created by the transformation of inputs - whether material or not - into an more useful set of outputs. Human labor may or may not be the means by which this transformation is accomplished. But the nature of the transformation can only be defined by human intelligence, and the evolution of technology seems to be shifting the weight of importance even further away from labor and further toward ideas.