4min chapter

The "What is Money?" Show cover image

The Philosophy of Money with Stephen Hicks (WiM350)

The "What is Money?" Show

CHAPTER

The Labor Theory of Value

When I was in the factory there was a great deal of resentment against the guys who were working in the office. It's just a misapprehension of the nature of knowledge or the value of knowledge work. These weren't necessarily bad people. They just hadn't gone up to see the higher level coordination that's going on in the banks and Wall Street.

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