Labor theory of value


Karl Marx himself credited Benjamin Franklin in his 1729 essay entitled "A Modest Enquiry into the Nature and Necessity of a Paper Currency" as being "one of the first" to advance the theory. Adam Smith accepted the theory for pre-capitalist societies but saw a flaw in its application to contemporary capitalism.


Warren said that Stephen Pearl Andrews' The Science of Society, published in 1852, was the most lucid and complete exposition of Warren's own theories. Mutualism is an economic theory and anarchist school of thought that advocates a society where each person might possess a means of production, either individually or collectively, with trade representing equivalent amounts of labor in the free market.


Cheltenham, UK, Brookfield, US 1996.


McGraw-Hill Kogakusha, Ltd. Keen, Steven Use, Value, and Exchange: The Misinterpretation of Marx. ([Internet edition: 1999] [1887 English edition]). Moseley, Fred.


Paris: EURODOS; 2008. Hagendorf, Klaus: Labour Values and the Theory of the Firm.


Paris: EURODOS; 2009. Hansen, Bue Rübner.


Emended, digitized edition 2010 with a new Preface, lxxiii + 466 pp. . Ellerman, David P.

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