372 sats \ 1 reply \ @elvismercury 9 Jan \ parent \ on: New Thinking in Austrian Economics econ
Classical and Marxist economists consider value to derive from labor,
Really? Who in the modern era, other than Marxists, buys into the labor theory of value?
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1021 sats \ 0 replies \ @Undisciplined 9 Jan
Basically, no one: The Classical economists were Smith, Ricardo, Mill, Malthus, and Marx.
Most modern economists are neo-classical, which is sort of classical + subjective value theory.
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