Marxs theory of value uses the input of Labour as determinining Production Value. But what if we can do away with Labour?
For example, consider a perfectly automated factory producing mugs.
This has no labour input. (To set up the factory requires capital but not labour).
I'm using this as a gedanken-experiment to illustrate:
As large-scale industry advances, the creation of real wealth depends less on the labour time and quantity of labour expended than on the power of the instrumentalities[ie automation] set in motion during the labour time...
Human labour...stands outside of the process of production instead of being the principal agent in the process of production. In this transformation, the great pillar of production and wealth is no longer the immediate labour performed by man himself, nor his labour time, but...his knowledge and his mastery of nature through his societal existence – in one word, the development of the societal individual
...As soon as human labour, in its immediate form, has ceased to be the great source of wealth, labour time will cease, and must of necessity cease to be the measure of wealth, and the exchange value must of necessity cease to be the measure of use value. . . . The mode of production which rests on the exchange value thus collapses.
from Marxs Grundisse