: : Tell me. What is the labor value of a whip-socket on the automobile of your choice? Or an air-conditioner to an Eskimo in Alaska? Or whale oil to a Londoner?
: Never less than the cost of materials + labor that went into it. Otherwise price tags would yield to informal bartering across the world.
Who will pay for the materials and labor in a non-existent
market of whip-sockets? How does it survive?
Think before you post.
: Ever heard of the concept 'selling at a loss'? Market-theory doesn't explain how such a condition could be MEASURED, does it? Yet any capitalist will tell you such a (dreaded) state of affairs does exist!
Who needs to measure this? It sells or it doesn't. If
there's no profit at some point it will cease to exist. Labor,
profit, everything. The whole shebang. The consumer wasn't
interested in it [for any number of reasons] or didn't know
This is what's known as the end of all value in a product
since it is no longer produced.