Refuting Victor Magariño on the Labour Theory of Value

In this video I'm refuting Victor Magariño on an argument I have done several times already in relation to do with the Labour Theory of Value. As it was requested, it can be difficult not to repeat over certain things relative to subjective theory, but in relation to Victor's argument, this video I explain the flaws in his claims of where value comes from.

It is important to note that when Victor mentions about _'use value'_ he doesn't understand that it is people's subjective value over its use. Something may be of greater use to one particular person over another and as I've pointed out in his attempt to differentiate the use value and exchange value, he fails to acknowledge that his explanation of the exchange value still correlates to someone's subjective value.

Another thing to note is that the size of a given commodity, it's material, etc again is based on the individuals subjective opinion of the product. It's like how consumers may prefer smaller cameras to bigger, heavier, bulkier cameras, therefore, the physical aspects of a commodity is even determined down to subjective value.

Whilst certain larger portion sizes of food could be construed as having greater value due to quantity, it is the opinion of the consumer what they prefer. If there's greater quantity, there is greater costs, so there will be a greater price, however, it is still the subjective value determined down to the individual consumer, people have different value for different things, we don't all like the same clothes, food, books, music, films, games, etc.

A product may be made of a particular material that could push the price up, but the real determining factor determining the value for such products is down to the individual preference of the consumer, some may prefer the cheaper material, others may not. In other words, something of better quality is actually determined down to the preference of consumers, not because of the object itself.

*Follow Me on Social Media:*
• Facebook: https://www.facebook.com/LibertarianViewsScottyM
• Twitter: https://twitter.com/ScottCJMcKelvie
• Parler: https://parler.com/#/user/LibertarianViewsScottyM
• Gab: https://gab.com/LibertarianScot
• Minds: https://www.minds.com/LibertarianScot/
• MeWe: https://mewe.com/i/scottmckelvie
• WordPress Blog: https://libertarianviewswithscottym.wordpress.com/
• LBRY/Odysee: https://odysee.com/@LibertarianViewsScottyM:6
• Rumble: https://rumble.com/c/c-390494
• BitChute: https://www.bitchute.com/channel/egfCIS1DbaBM/

*You can also support me here on Patreon:*
https://www.patreon.com/LibertarianViewsScottyM