I met a young man at a party many years gone by who boasted to a small gathering in some downtown Toronto townhouse kitchen late in a summer’s evening over Heineken that he could refute Marxism in one sentence. I scoffed but was intrigued as many of us there were—though quite a few I might add, left the kitchen like he had COVID-19. This was his one sentence refutation: “I could instruct a hunter-gatherer, chimpanzee, robot, American factory worker, whoever, to turn and tighten this and that on the this or that assembly line, but to instruct the factory worker, create the robot, invent the machine they assemble, to think up the idea of the assembly line, to be the primatologist and anthropologist to coach the monkey, anthropologist to initiate the hunter-gather, all these types of activities, take mental acuity and human accumulated knowledge after years of arduous study in one form or another—so much for The Labour Theory of Value (Surplus Value).” We were all I suppose, deflated, but of course with hindsight, it was quite, true, he had refuted Marxism in one sentence with  The Theory of  Human  Capital, or at least what we usually mean by unionized or organized labour. Of course mental labor is nonetheless real labour even if Adam Smith and Karl Marx didn't understand that wealth indeed is mostly created by human cleverness, i.e, Human Capital.