New Discourses Introducing the Problem-Solving Theory of Value
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Feb 13, 2026 A casual exploration of what makes things valuable and why traditional answers fall short. A new idea is proposed: value as the capacity to solve problems for people. Discussions range from wealth as problem-solving power to status goods, national prosperity, and practical career advice about earning by fixing others' problems.
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Labor Theory Versus Usefulness
- James A. Lindsay contrasts Marx's labor theory of value with alternatives, explaining Marx's idea that labor "humanizes" nature into value.
- He argues labor alone doesn't determine value because usefulness to human problems is the real source of economic value.
Subjective Value Depends On Need
- Lindsay presents the subjective theory of value: worth depends on individual perception and need, like glasses for someone who needs them.
- He shows subjectivity alone fails because perceived worth ties back to problem-solving utility.
Value As Problem-Solving Capacity
- Lindsay proposes the Problem-Solving Theory of Value: value equals a thing's capacity to solve problems for people.
- He frames better/worse as relative to how well something achieves a purpose and satisfies needs.
