Usually means: Value determined by labor input.
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We found 5 dictionaries that define the word labor theory of value:

General (3 matching dictionaries)
  1. labor theory of value: Merriam-Webster
  2. labor theory of value: Wiktionary
  3. Labor Theory Of Value, Labor theory of value: Wikipedia, the Free Encyclopedia

Business (2 matching dictionaries)
  1. labor theory of value: Glossary of research economics
  2. Labor theory of value: Deardorff's Glossary of International Economics

Definitions from Wiktionary (labor theory of value)

noun:  (economics, political science) The theory, usually associated with Marxian economics, that freely reproducible goods obtain their value from socially necessary human labor time.

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