Quote Originally Posted by Philipvs Vallindervs Calicvla View Post
This sort of thinking is predicated on Adam Smith's concept of Labour as modified by Marx, but it no longer applies because Smith was talking about Artisanal Labour, when today much Labour is (comparatively) unskilled, and many people have no actual trade or marketable skills at all. This is why so many people have unstable careers and have to keep changing jobs.

You also missed something about the plow, it's also got a base cost - the iron and wood have an inherent value based on what you can do with them.

The real point is - it's not the Labour, it's the time.
Adam Smith used nail making for half his examples. Most of the other examples were farming. Oh, and that greedy baker, of course. Plus some scots picking fancy-looking stones on the shores.

Not exactly highly skilled jobs, eh?

Anyway: this sort of economic thinking is mainstream today. You're the one coming up with the slightly whacky take on what wealth is.