Except in our current system "Value" is whatever is set by commodity exchangers who use their $Billions to buy all the available product and the hold it until THEY want to sell it at the BEST price THEY can get for it.Not according to Smith either. BFD.
Value = what some idiot will cut a check for.
"Value is that which a trader will willingly barter the product of his own labor to obtain." - Adam Smith.
How do you like being a hostage to Billionaires?