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Basic answers to the most common objections you hear in regards to the labour theory of value. Unsurprisingly, the vast majority of them are a result of not actually reading what Marx said, and as a result fall flat.
00:00 Introduction and Definitions (commodity, use-value, exchange-value, price, value, SNLT)
01:39 What is The Labour Theory of Value?
02:44 Intro to Objections to the LToV
03:03 "The LToV hasn't been proven in the real world, scientifically!"
03:23 "Mudpies!"
04:48 "But the Subjective Theory of Value!"
07:53 "Marx claimed labour is the source of value, what about nature?"
08:21 "What about art? Services in low supply and high demand? Diamonds?"
09:51 "Individual skill levels!"
10:54 Conclusion
