ice has an intrinsic value. Although they may have disagreed, and indeed been wrong, on the ultimate source of value, the classical economists, from Quesnay to Marx were correct in believing that value was a real, meaningful intrinsic quantity. There are of course a number of natural objections to an in

ose, and may be new to the world. Mill and Petty beat me to the others. | have been arguing the pay and Yrules from the time | reversed course from Quesnay’s idea some five years ago. I will rederive both in new ways at the end of this chapter. My change of mind was a classical epiphany. I had been resis

human capital. This confirms the traditional view (A5.1) if (A5.5) is right in interpreting prior claims on pay as zero. If 1 was wrong there, and Quesnay and the physiocrats were right, some maintenance consumption would be recovered in revenue of its suppliers. Then I should have written something li