Problem with the labor theory of value

Reference no: EM13523541

Locke does not believe that property appropriation (the activity of mixing one’s labor with natural resource and claim a right over it) will reduce the common property, why? What limits on private property does Locke establish? Once money is introduced into the economy, do these limits become meaningless? How does money change the nature of labor activity? What is the relevance of Locke’s theory to our society? Is there any problem with the theory (the labor theory of value) that Locke used to justify property appropriation?

Reference no: EM13523541

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