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> Price, value and practical utility are not really correlated. For people interested in reading further, Marx's Capital is excellent at defining these terms v
by HnSpectre 7y ago
> Price, value and practical utility are not really correlated.
For people interested in reading further, Marx's Capital is excellent at defining these terms very precisely:
https://en.wikipedia.org/wiki/Labor_theory_of_value https://en.wikipedia.org/wiki/Labor_theory_of_value
https://en.wikipedia.org/wiki/Use_value https://en.wikipedia.org/wiki/Use_value
https://en.wikipedia.org/wiki/Exchange_value https://en.wikipedia.org/wiki/Exchange_value