[OPE-L:2360] Carpe diem!: LTV

From: Gerald Levy (glevy@PRATT.EDU)
Date: Sun Feb 13 2000 - 10:37:00 EST

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Geert asked in [OPE-L:2353]:

> I would like to know who came up with the term LTV. Was that revealed in
> the 1996 OPE-L discussions? I would expect early Austrians, but perhaps
> also early left-Ricardians.

I don't have an answer yet to your question but the "labor theory of
value" was a descriptive term that was widely used in the 1920's. Although
von Weiser referred to the "labor theory" in the second edition of _Social
Economics_ (1924), I.I. Rubin explicitly refers to a "labor theory of
value" both in _Essays on Marx's Theory of Value_ (1928) and _A History of
Economic Thought_ (1929).

I find Rubin's use of the expression LTV curious since Elson's 1979
article on the "value theory of labour" was influenced by her
interpretation of Rubin (1928).

In solidarity, Jerry

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