"To defend the truth, to articulate it with humility and conviction, and to bear witness to it in life are therefore exacting and indispensable forms of charity."

H. H. Benedict XVI. Caritas in Veritate Encyclical. June 29, 2009

Sunday, July 8, 2012

Against a labor theory of value

The demand for a good of higher order cannot change save by a change in the price of some good of lower order which it helps to produce.

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