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DAR

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  1. I would solve that problem by saying, the value of that widget is not the labor that went into that widget, but is the lowest amount of labor that could get a widget like that. (provided anyone needs or wants the thing) Besides, I'm talking about price. Economics is about price. Value in Objectivism is more in the field of Ethics.
  2. Of course, the labor that goes into a widget is ALL the labor, including labor that goes into mining the ore, transportation, buildings, governments. The price of an object can be less than the labor that went into it, because the buyer doesn't want it that much, but the price of an object cant be MORE than the labor that goes into it, otherwise you could pay for the labor to make another one. You spent a hundred hours making a tire, but I don’t think it's that great so I'm only willing to give you a dollar for it. If you buy a laptop computer, you are paying for the labor that went into making it. You could make one yourself instead of buying one from the factory, but inefficiencies would increase your labor to a lot more than the factory that makes them. So you buy it from the laptop factory instead. The price of anything can range from zero up to the cost it would take to make another one.
  3. Dionysus, You are right. Ayn Rand is saying that the praying mantis is not concerned about his future children when he mates. He is only concerned about his own life. I know this goes against all accepted scientific theories, but once you start to consider it, it makes a lot of sense. It could be that species and groups exist for the individual organisms, and not the other way around.
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