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.

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