Dialogue and Universalism

Volume 28, Issue 3, 2018

Karl Marx: On the Occasion of the Bicentary of his Birth

The Political Implications of Marx’s Labour Theory of Value

In economic history value theory is simply one paradigm amongst others. It refers to an ensemble of economic ideas developed by classical political economists such as Adam Smith and David Ricardo. In the works of Karl Marx, however, value theory takes on a new meaning. It is charged with political significance and relates directly to class struggles in modern society. In this paper we will explore some aspects of Marx’s critique of capitalism as interpreted by Harry Cleaver, Isaak Illich Rubin, Roman Rodolsky and several other scholars.