If one had a labor theory, where would one start sketching it out?
The first thing to know is what labor is. The traditional view would be the time and expertise an actor sells to the state, a business, or anyone who will pay. I suppose. Labor is given to fulfill a job, for pay, that is. So anyone who throws a hammer to reroof a house, counts coins at a teller window, or cares for a child in the oncology ward is earning a paycheck for their time.
The thing is, people do these very same actions without pay. A handful of buddies construct a deck as a weekend project in exchange for some beers and a BBQ. A granddaughter shows up at Grandpa’s house to sort through and pay his medical bills. A sister takes in her niece, who has the flu, so the mom can go to work. This is labor, too. Except it’s done in community and not for pay. So,we call it volunteerism.
The first premise is that people spend their time on paid labor and volunteer labor. It is measured is labor hours.
Home Economics 