Economic value is nothing more than what someone will pay. It is meaningless to say that if people will only pay $3 then there's no way anyone should pay $10.

Economic value is nothing more than what someone will pay. It is meaningless to say that if people will only pay $3 then there's no way anyone should pay $10. On slave-owning plantations, the owners were paying $0/hr in wages, but that didn't mean that there was no way slaves can or should be paid more than $0/hr.