February 14, 2013 at 1:37 pm #17621
Human effort can be divided into two types: labor and leisure. Labor is human effort as a producer good. As you say, labor is valued indirectly from the value of the consumer good it helps produce (which in turn is valued directly for the end it helps attain) and the contribution it makes to the consumer good’s production. Leisure is human effort as a consumer good. Leisure is valued directly for the aid it renders in attaining an end. Both consumer goods and producer goods are means to an end and therefore, valued as such.