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Blogs Liberty and Power The Question of Value

May 4, 2012

The Question of Value

by Liberty and Power

Labor (including mental labor) does not bestow utility on an automobile; consumers do that. Rather, labor bestows utility on the disparate factors of production by transforming them into an automobile.

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Labor (including mental labor) does not bestow utility on an automobile; consumers do that. Rather, labor bestows utility on the disparate factors of production by transforming them into an automobile.