No? If value isn't defined as the price at which the product is selling (could easily be above cost), what is it in basic econ? 1. Worker(s) make a thing. 2.

No? If value isn't defined as the price at which the product is selling (could easily be above cost), what is it in basic econ? 1. Worker(s) make a thing. 2. Worker(s) sell a thing. 3. All the above worker(s) (if there's more than one) receive a portion of the proceeds. If it reflects their actual contribution to that thing at its selling price, it's their marginal product of labor, putting aside things like reinvestment and power imbalances. This leaves nothing left over for profits, for owners / investors to take, who did not contribute the labor to production (otherwise, they'd also be workers and we'd call that part of their compensation, not profit).