[OPE-L:2364] Re: Carpe diem!: LTV

From: Simon Mohun (S.Mohun@qmw.ac.uk)
Date: Mon Feb 14 2000 - 05:22:28 EST

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Gide and Rist in their 'A History of Economic Doctrines' (1915) talk of
1. Ricardo's 'theory of labour-value... and how it prepared the way for the
Marxian theory of surplus value' (p.140)
2. 'the fundamental theory of Marxism, that of labour-value theory' and
Marx's 'formal acceptance of the labour-value theory' (both on p.474).


At 10:37 13/02/00 -0500, you wrote:
>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
Dr. Simon Mohun, HoD,
Dept of Economics,
Queen Mary and Westfield College,
Mile End Road,
London E1 4NS,
Tel: +44 (0)20 7882 5089; Fax: +44 (0)20 8983 3580

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