Ask Prof Wolff: Criticizing Critics of Marx’s Labor Theory of Value

A patron of Economic Update asks: “I’m hoping you can provide insight on the following question: In defense of the Marxian labour theory of value, how should one respond to the critique, such as that provided by Yaron Brook among others, that *ideas* are the true source of value and it is therefore the entrepreneur who rightly deserves the bulk of the rewards generated from productive activity orbiting around the “idea“?“ This is Professor Richard Wolff’s video response. Submit your own question to be considered for a video response by Prof. Wolff on Patreon: Ask Prof Wolff is a@democracyatwrk production. We are committed to providing these videos to you free of ads. Please consider supporting us on Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one! Your support also helps keep this content free to the public. Spreading Prof. Wolff’s message is more important than ever. Help us continue to make this possible. _________________________________________________________________________ Learn more about d@w’s NEW BOOK by award-winning print and broadcast journalist Robert “Bob“ Hennelly. Stuck Nation: Can the United States Change Course on Our History of Choosing Profits Over People? “Hennelly brilliantly analyzes our capitalist crises and how individuals cope with them, tragically but often heroically. He helps us draw inspiration and realistic hope from how courageous Americans are facing and fixing a stuck nation.” - Richard D. Wolff _________________________________________________________________________ Follow Wolff ONLINE: Web: Patreon: Twitter: Facebook: Subscribe to the EU podcast: Shop our worker CO-OP made MERCH: