Well first let's agree on terms. What do you think the purpose of a price is? What should it represent?
I tend to agree with the LTV definition:
> The labor theory of value (LTV) posits that the economic value of a good or service is determined by the socially necessary labor time required to produce it under prevailing conditions
I tend to agree with the LTV definition:
> The labor theory of value (LTV) posits that the economic value of a good or service is determined by the socially necessary labor time required to produce it under prevailing conditions