Wikipedia: Labor theory of value/Talk

Is "intrinsicism" economics jargon? See http://www.dictionary.com/cgi-bin/dict.pl?term=intrinsicist

I have never heard the word from anyone other than followers of Ayn Rand. --LMS

The word appears, but rarely, in the philosophical literature, I think.

Two examples I found on the web:

: http://www.utm.edu/research/iep/j/justwar.htm
: http://www.utm.edu/research/iep/i/interven.htm

However, the correct jargon here is 'intrinsic value theory', so I changed it.

Other examples of 'intrinsic value theory', besides the labor theory of value, would include various forms of environmentalism, and at least one theory (not of any repute, I think, but I did read it somewhere) that the 'real' value of any thing is the amount of energy it took to produce it.

The historical materialism page has a better explanation of the labor theory of value than the labor theory of value article, it seems. Ed Poor

: That page has no explanation of the Labor theory at all; I have no idea what you're talking about. --LDC

: That's okay, we often don't understand each other :-) so here's a quote:

Marx begins by examining the exchange value and the use value of products. He is dissatisfied with the supply and demand curve, as it does not show the power relationships involved. Marx sees that labor is not being paid according to the use value, but according to the commodity price, or the exchange value. Labor has now become a commodity, because the capitalist has paid him according to the exchange value in order to gain a profit, the purpose of capitalism. The difference between what the capitalist pays the worker and the value of what the worker produces is called the surplus value, value that the worker never sees and the capitalist receives because he put up the capital in the first place. Capitalists achieve this surplus value through division of labor, which not only deskills the laborer, but also demoralizes him after he works day after day producing more than he ever did before the advent of capitalism, yet for equal or even less money.