Marxists say the only value in anything is the labor that goes into it. This is incorrect: the only value is what someone is willing to pay. Let us draw a hypothetical scenario to prove it.
Let us say the “Obama business-government partnership” has decided to establish a turd polishing factory. A few big donors to the Presidential campaign get a massive government loan to establish the facility. It’s touted as a “green” industry, utilizing waste to raise our standard of living.
The Government insists the labor force be unionized, its leaders determined that the workers be paid “a living wage”! And so it’s done.
Each box polished turds, set forth in tidy boxes of 12, has allocated to it $50 of labor costs, plus profit and overhead. The price has been set at $75. But who will pay?
There would be a Presidential executive order requiring each government employee to consume at least a box a month, or possibly the SEIU would push its members to “buy Union “ to support production. The DNC would buy thousands of boxes for consumption by the “Occupy Wall Street” rabble. Or a special halal version, consisting of polished camel turds would be provided to the Mosques.
Bottom line: just because some moron is paid to produce something, is that amount really what it’s worth?