Economics Dictionary of ArgumentsHome
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| Value theory: Value theory explores how economic value is determined, whether by subjective preferences (as in neoclassical economics), labor inputs (as in classical economics), or other factors. See also Labour, Price._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Friedrich Engels on Value Theory - Dictionary of Arguments
Rothbard II 328 Value theory of Labour/Engels/Rothbard: Any believer in the labour theory of value who tried to set forth a scheme of economic calculation under socialism would likely fasten on the idea of setting prices, and paying wages, in accordance With the labour time expended on production. The issue oflabour-time tickets was precisely the plan proposed by Robert Owen, by the Ricardian individualist-anarchist Josiah Warren, and by the German Ricardian socialist Johann Karl Rodbertus ( 1805-75). One of Friedrich Engels's most penetrating economic insights came in the course of demolishing the labour-ticket money Utopian socialism of Rodbertus, a beloved figure in Germany at that time. EngelsVsRodbertus: Engels denounced the Rodbertus doctrine in a preface to the first German edition of Marx's The Poverty of Philosophy, the year after Marx's death (1884). Here Engels had the impudence to condemn Rodbertus's labour money as 'childishly naive', and to press on to scorn Rodbertus for overlooking economic law and the competitive market process: To desire in a society of producers Who exchange their commodities, to establish the determination of value by labour time, by forbidding competition to establish this determination ofvalue through pressure on prices in the only way in which it can be established, is therefore merely to prove that... one has adopted the usual Utopian disdain of economic laws. Rothbard: Engels goes on to assert that competition, by 'bringing into operation the laws of value of commodity production in a society of producers Who exchange their commodities', creates the only possible organization of social production 'in the circumstances'. _____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconEngels I Friedrich Engels Der Ursprung der Familie, des Privateigentums und des Staats Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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