Value is determined by what the holder/offerer/seller/worker decides their product/services are "worth" and if a purchaser/employer agrees. If I say that my time is worth $300/hr and someone is willing to pay me that much for my time, energy, effort and work output, then I am "worth" that much. If I have no takers, then my assessment is wrong and my time has no value at the asking price. If you have something that I want (an object or your work) and I put a value to it (of what I am willing to give of mine in exchange for what you have) and you don't agree with my offer? Then to you, what you have is "worth more". But until you find someone who is willing to meet your conditions, what you are offering has "no value". Value is determined at the moment of exchange. If there are not two parties that have what each other wants and they can't agree as to an exchange, then there is no trade and without the exchange, neither's offering has any "value". People are willing to assign a value to just about anything. The thing doesn't change, it isn't altered by whether or not it is in demand or if people value it. Value, cost, price are arbitrary. "Life is cheap" and "Life is priceless" are both true, both conflicting, and completely dependent on whose life is being discussed.