Excerpt from History and Criticism of the Labor Theory of Value in English Political Economy, Vol. 19
The classical theory of value regulation was composed of two separate accounts. That is, these two accounts were of distinct origin and nature, and should have been kept distinct. Instead of this they were more or less fused and the relation between them was always clouded. To this fact is due the great difficulty all must experience in rmching a complete understanding of the classical theory. Though it is for this reason very necessary to give the accounts separ ate names, it seems impossible to find unobjectionable terms. Professor von Wieser, from whom I have taken the ida that the confusion between these two accounts is the key to the history of the labor theory of value, distinguishes them by the terms philosophical and empirical.
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PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000. Codice articolo LW-9781334474590
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Paperback. Condizione: New. Print on Demand. This book traces the evolution of the labor theory of value in English political economy, with a focus on the contributions of Adam Smith, David Ricardo, and Karl Marx. The author argues that Smith's labor theory was a complex and multifaceted doctrine that has been often misunderstood. Ricardo's theory, on the other hand, was a much simpler and more rigorous version of the labor theory, and it became the dominant version of the theory in the 19th century. Marx's theory of value was a further development of Ricardo's theory, and it became the basis of his critique of capitalism. The author concludes that the labor theory of value is a valuable tool for understanding the nature of value and exploitation in capitalist economies. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Codice articolo 9781334474590_0
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