Well I googled, and you're right, the concept does exist. Here's wikipedia's entry on intrinsic theories of value: https://en.wikipedia.org/wiki/Intrinsic_theor

Well I googled, and you're right, the concept does exist. Here's wikipedia's entry on intrinsic theories of value: https://en.wikipedia.org/wiki/Intrinsic_theory_of_value https://en.wikipedia.org/wiki/Intrinsic_theory_of_value It mentions Adam Smith, Ricardo, and Marx, but nothing in modern economics. The only other thing I found for "intrinsic value" involved investors looking at the values of companies, but that's investing, not economics. Of course it's impossible for me to prove a negative. Maybe you could respond with a link of your own, describing the role of intrinsic value in modern economic theory?