[OPE-L:3626] Re: "Labor Theory of Value"--not used by Marx!

Paul Cockshott (wpc@cs.strath.ac.uk)
Fri, 8 Nov 1996 00:59:48 -0800 (PST)

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The fact that the term labour theory of value is not used in Marx
is hardly significant. Do Smith or Ricardo use the phrase either?
It is a label applied retrospectively to distinguish these thinkers
from those who came after who had a utility theory of value. One
can hardly expect them to have had the foresight to distinguish
themselves from an as yet uninvented theory.
Paul Cockshott