LABOR THEORY OF VALUE

From Wikipedia, the free encyclopedia

The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of socially necessary labor required to produce it, rather than by the use or pleasure its owner gets from it. At present, this concept is usually associated with Marxian economics, although it is also used in the theories of earlier liberal economists such as Adam Smith and David Ricardo and later also in anarchist economics.

“If among a nation of hunters, for example, it usually costs twice the labor to kill a beaver which it does to kill a deer, one beaver should naturally exchange for or be worth two deer.”

–Adam Smith, The Wealth of Nations, Book I, Chapter VII

“The word VALUE, it is to be observed, has two different meanings, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys. The one may be called 'value in use ;' the other, 'value in exchange.' The things which have the greatest value in use have frequently little or no value in exchange; and on the contrary, those which have the greatest value in exchange have frequently little or no value in use. Nothing is more useful than water: but it will purchase scarce any thing; scarce any thing can be had in exchange for it. A diamond, on the contrary, has scarce any value in use; but a very great quantity of other goods may frequently be had in exchange for it.”

–Adam Smith, Wealth of Nations Book 1, chapter IV

11 REASONS TO FORAGE FOR
PINE NEEDLES

October 10, 2016 by Sierra Bright

1. Pine needles boost immunity
Pine needles are rich in Vitamin C, the vitamin that helps you ward off colds and flu and other seasonal ailments. A tea made from the needles from your Christmas trees may be quite handy, but they are likely to be sprayed with chemicals or colors.

2. Pine needles improve eyesight
Pine needles are a good source of Vitamin A and other carotenoids that promote eyesight. If it is not practical to make fresh pine needle tea often enough, a tincture with alcohol can be used.

3. Pine needles keep skin healthy
Pine needles have antimicrobial and anti-inflammatory properties. Use the tea as a face wash to remove excess oil and prevent acne. Thanks to the astringent elements in them, the tea pulls the skin together, reducing pore size.

4. Pine needles promote healthy hair
Pine needle tea can be used to treat itchy scalp and dandruff. Wash the hair frequently with diluted tea.

5. Pine needles relieve fatigue
Drinking a cup of tea made with Douglas fir or juniper stem tips can be invigorating when you’re fatigued by hard work.

6. Pine needles have anti-aging properties
The strong antioxidant action of the pine needle tea may help prevent premature aging due to UV radiation.

7. Pine needles keep your feet healthy
Pine needle tea can be used to wash cuts and wounds to prevent infections.

8. Pine needles improve blood circulation
Turpentine oil extracted from pine trees have a long history of being used topically for relieving pain and swelling due to arthritis and rheumatism.

9. Pine needles prevent anemia
Drinking pine needle tea can reportedly prevent and treat anemia. The active substances in the needles increase red blood cells besides improving blood circulation.

10. Pine needles relieve respiratory problems
Pine needle tea acts as an expectorant, lightening the mucus and helping it to be coughed up. The tea is also soothing for an irritated mucous lining and helps relieve excessive coughing.

11. Pine needle tea is strongly antibacterial
Drinking the tea helps fight bacterial infections in the mouth and respiratory tract.