....” History of Political Economy 1 (Spring): 67 -84. Foxwell , H. S. 1895 . A criticism of Lord Farrer on the monetary standard . London. Reprinted from the National Review, Jan. 1895. Gordon , Donald F. 1959 . “What was the labor theory of value?” American Economic Review 49 (May...

... and the labor theory of value Hans Brems Mid-eighteenth and mid-nineteenth century economists alike tried to determine relative prices by relative absorptions of a single input. To the former, that input was land use; to the latter it was labor. Let the two schools...

...), 15 , no. 6 ( 1974 ): 25 -51. History of Political Economy 14:2 0 1982 by Duke University Press The labor theory of value in the Ricardian theory of international trade Takashi Negish i...

...E. K. Hunt History of Political Economy 11:4 1979 by Duke University Press Utilitarianism and the labor theory of value: a critique of the ideas of William Thompson E. K. Hunt, University of Utah...

...Terry Peach This article provides a rebuttal of Roy H. Grieve’s critique of Peach 2009, “Adam Smith and the Labor Theory of (Real) Value: A Reconsideration.” It is shown that Grieve cannot represent accurately the position he purports to criticize, that his criticisms are directed at phantom...

...Alexander Bajt Copyright © 1971 by Duke University Press 1971 Labor as Scarcity in Marx’s Value Theory: An Alternative Interpretation Alexander Bajt MAR~~SCa.pital is a voluminous work. Together its four volumes comprise over 4,000 pa.-ges.l...

...Jorge Morales Meoqui With the famous numerical example of chapter 7 of the Principles (1817) David Ricardo intended to illustrate first and foremost the new proposition that his labor theory of value does not regulate the price of international transactions when the factors of production...

...Terry Peach This article questions the widely held opinion that Adam Smith confined his use of a labor theory of exchangeable value to an “early and rude state of society” in which independent laborers exchange the surplus products of their labor. It is argued that Smith did not explicitly disavow...

...Francisco L. Lopes This paper tackles the puzzle of Ricardo's stubborn commitment to a labor theory of value that he himself saw as no more than an approximation to reality and which was heavily opposed by Malthus, his most respected contemporary. We show it is wrong to think that the theory...

...Roy H. Grieve In a recent paper Terry Peach argues that Adam Smith found no reason to limit application of the labor-embodied theory of value to the early and rude state of society. According to Peach, Smith—having found a problem in employing the labor-commanded measure of value in the case...

... as the history of socialist ideas. He is nearly always portrayed as a left-wing propagator of David Ricardo’s labor theory of value-a “Ricardian Socialist”-who de- veloped the radical implications of that theory and then passed on his version of the labor theory to Karl Marx. Marx, in turn...

... . The Empirical Assumptions of Ricardo's 93 Per Cent Labour Theory of Value. Economica 34 ( November ): 418 -23. Bharadwaj , Krishna . 1983 . On a Controversy over Ricardo's Theory of Distribution Cambridge Journal of Economics 7 . 1 : 11 -36. Blaug , Mark . 1985 . Economic Theory...

..., University of Haifa Introduction: the problem Marx’s economic model has frequently been criticized for ignoring or failing to appreciate sufficiently the role of demand in economic theory. In line with Ricardo and other classicists, Marx’s model rests on the labor theory of value...

...) on this basis, workers are ex- ploited by Capitalists, who appropriate ‘ ‘ surplus value ” (which is the product of “surplus labor” performed by workers) in the form of capitalist profit, interest, and rent. Marx held that the theories of value and distribution in classical political...

... of intrinsic value has a marked family likeness to the difficulty arising from different capital structures which upset Ricardo's labour-input theory. (Emphasis added) In other words, with heterogeneous land, one (random) acre (or one acre of land in general) may possess all sorts of different...

... in 1893 under Carl Menger and Philippovich. He mastered Marx’s labor theory of value, Viennese marginalism, and Philippovich ’8 principles of welfare economics, all in the same years.’ His training in marginalism stood the Austrian Marxists in good stead when they had to defend Marxism...

... in a technologically based theory of value which neglects the element of demand: fixed technical coefficients, no choice of technique or joint products, and the uniformity of the vector of labor consumption across all industries and individuals. Thus having disposed of the law of dimin- ishing returns...

..., the long-run tendencies of capital ac- cumulation and multisectoral growth theory, leaving aside the problems of rent, the concentration and centralization of capital, and crises. More complete discussions of all these issues can be found in Foley 1986. Labor Theory of Value and Exploitation...

... as we presented it. As a result, he has misinterpreted our argument and thereby criticized it as a conventional defense of ‘the’ labor theory of value. To recapitulate, we do not view Mam’s transformation in the traditional manner as an exercise in deduction in which competitive production...

... consistent and useful in understanding accumulation. Murx’s Dejnition of Productive und Unproductir~u Labour Marx’s general definition of productive labour is attested to by many passages in Cupitul and Theories of surplus-value-for instance...