Subjective theory of value is stupid

[Abu_Adnan]

Question to those who don't believe the labor theory of value and instead subscribe to the subjective theory of value. Lets say in a market there is small supply of laptops and a lot of demand for it, the price would increase, right? But what if the supply of laptops is still low, but the demand is also low? Would the laptop lose its value? Do laptops become free in this market? No, of course not. But if there is still a price tag on laptops in such a market, even if such a price is low, where did the remaining value come from? It comes from labor obviously, someone extracted the materials, someone else made them into parts and another person put them together, and that's very simplified as it doesn't include transportation and whatnot. Again, I ask, if not from labor then where does the value come from?

 

[Basra]

it comes from the bug called Capitalism

 

[Taij4an]

The amount labourers are paid is subjective to the employer and how much value he is getting from his product

 

[KillStreakIsCool]

Question to those who don't believe the labor theory of value and instead subscribe to the subjective theory of value. Lets say in a market there is small supply of laptops and a lot of demand for it, the price would increase, right? But what if the supply of laptops is still low, but the demand is also low? Would the laptop lose its value? Do laptops become free in this market? No, of course not. But if there is still a price tag on laptops in such a market, even if such a price is low, where did the remaining value come from? It comes from labor obviously, someone extracted the materials, someone else made them into parts and another person put them together, and that's very simplified as it doesn't include transportation and whatnot. Again, I ask, if not from labor then where does the value come from?View attachment 233213

From my non-economist view point, material cost+labor+overhead = item price. Also, businesses apply what is called dynamic pricing that has little to do with the original value/cost of their product but based on consumer demand - sheer tuuganimo.

If a seller opts to consciously price items to lure in more customers without sacrificing base profit, then that is the Islamic way. I think Europeans use this model of pricing whereas Americans like Jeff Bezos use dynamic pricing and continuously charge customers new prices. Disgusting feature of American business.

 

[peacemaker]

Question to those who don't believe the labor theory of value and instead subscribe to the subjective theory of value. Lets say in a market there is small supply of laptops and a lot of demand for it, the price would increase, right? But what if the supply of laptops is still low, but the demand is also low? Would the laptop lose its value? Do laptops become free in this market? No, of course not. But if there is still a price tag on laptops in such a market, even if such a price is low, where did the remaining value come from? It comes from labor obviously, someone extracted the materials, someone else made them into parts and another person put them together, and that's very simplified as it doesn't include transportation and whatnot. Again, I ask, if not from labor then where does the value come from?View attachment 233213

Hello. A universal expert in subjective utility and time preference theorem.

Mengerian And Misesian Austrian school marginal subjective utility expert.

you have a lot of confusions. You need to unpack your questions. Your all over the place.

pick one point and stick to it. You asked a question and then provided an answer then asked a question again

do you wish to know where value is derived? For the seller or buyer in a low volume product ? Or are you asking what determines the price in a low volume low demand scenario ?

unpack your questions please. Too many fallacies as well in your questions.

Thanks.

 

[peacemaker]

The amount labourers are paid is subjective to the employer and how much value he is getting from his product

read what you wrote. Your very confused.

I think you totally misunderstood subjective utility for whimsical subjective apparent wage decided randomly by an employer which in its self is a fallacious argument

read what you wrote.

 

[peacemaker]

From my non-economist view point, material cost+labor+overhead = item price. Also, businesses apply what is called dynamic pricing that has little to do with the original value/cost of their product but based on consumer demand - sheer tuuganimo.

If a seller opts to consciously price items to lure in more customers without sacrificing base profit, then that is the Islamic way. I think Europeans use this model of pricing whereas Americans like Jeff Bezos use dynamic pricing and continuously charge customers new prices. Disgusting feature of American business.

kkkk. Do you have Hadith for this so called Islamic pricing ?

you claimed your a non economist. Lots of amateurish fallacies in your arguments. Let’s keep you away from complex topics you cannot comprehend

 

[gamarjoba123]

The value of the item comes from the demand in the first place, if there was no demand for the item then the labour would be futile.
This is called the product life cycle, if there were no sales in the introduction stage of an item then the item and the business would get bankrupt.

 

[Taij4an]

read what you wrote. Your very confused.

I think you totally misunderstood subjective utility for whimsical subjective apparent wage decided randomly by an employer which in its self is a fallacious argument

read what you wrote.

Yh I am waffling idk wth ur on about

 

[KillStreakIsCool]

Yh I am waffling idk wth ur on about

She wants your attention.

 

[KillStreakIsCool]

kkkk. Do you have Hadith for this so called Islamic pricing ?

you claimed your a non economist. Lots of amateurish fallacies in your arguments. Let’s keep you away from complex topics you cannot comprehend

Your nervous laughter says you are insecure. Plus your reply to everyone in the thread says you are looking for help with your economy 101 school assignment.

Ask nicely nacas yahay.

 

[Bundasliga]

How can you objectively value someones labor ? You can't.

Supply and demand has more impact on the value of something than labour.

 

[Sol]

Question to those who don't believe the labor theory of value and instead subscribe to the subjective theory of value. Lets say in a market there is small supply of laptops and a lot of demand for it, the price would increase, right? But what if the supply of laptops is still low, but the demand is also low? Would the laptop lose its value? Do laptops become free in this market? No, of course not. But if there is still a price tag on laptops in such a market, even if such a price is low, where did the remaining value come from? It comes from labor obviously, someone extracted the materials, someone else made them into parts and another person put them together, and that's very simplified as it doesn't include transportation and whatnot. Again, I ask, if not from labor then where does the value come from?View attachment 233213

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[Taij4an]

She wants your attention.

Whos "she"?

 

[KillStreakIsCool]

Whos "she"?

Peacemaker. I assumed peacemaker to be a female.

 

[Taij4an]

Peacemaker. I assumed peacemaker to be a female.

I think it is a man

 

[Taij4an]

@peacemaker u have bob and vagene or no?

 

[KillStreakIsCool]

How can you objectively value someones labor ? You can't.

Supply and demand has more impact on the value of something than labour.

Each is a component that drives pricing. It is not one or the other. If companies have to pay higher wages, they recoup the cost from pricing their products a little higher.

Demand is also another driver of pricing although corporations make secret deals behind closed doors to create demand or implement strategies that reduce availability of certain products in the market so people have to fight over what is available. Control on Patents and not allowing generic products easily on the market is another way to keep a lock on higher prices for critical items like medicine. The US corporations are notorious for the latter. Sheer greed that will ultimately destroy America.

 

[Abu_Adnan]

The value of the item comes from the demand in the first place, if there was no demand for the item then the labour would be futile.
This is called the product life cycle, if there were no sales in the introduction stage of an item then the item and the business would get bankrupt.

Without the labor there is no production, meaning the value of a commodity can only be derived from the labor used to produce it, its the most essential element to production. Even if we say that a commodity's value is derived from its materials, those materials must be extracted through labor.

 

[Abu_Adnan]

How can you objectively value someones labor ? You can't.

Supply and demand has more impact on the value of something than labour.

Supply and demand has an impact on its price, not its inherent value. In the example I gave, I acknowledged that if a commodity is rare but in high demand it will be priced higher, but if both supply and demand are low it will still have a value, the commodity doesn't just become free in such a market. This shows that while supply and demand have an impact on price, they have none on value.