Ep. 512 The Rise and Fall of the Labor Theory of Value
Episode Ep 512 35 min 45s

Ep. 512 The Rise and Fall of the Labor Theory of Value

Relying on his Journal of Libertarian Studies review essay of Kevin Carson' book on mutualism, Bob first explains--and then critiques--the labor (and cost) theory of economic value. This was not exclusively a Marxist idea; it was held by Adam Smith and other classical economists.

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