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In Defence of Marx’s Labour Theory of Value January 15, 2014

Posted by sandyclaus in Politics.
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The idea that all wealth is created by human labour is certainly not new. It can be traced back to the Middle Ages in John Ball’s sermons and was a central idea amongst the communist sects in the English Civil War. “But rich men receive all they have from the labourer’s hand, and what they give, they give away other men’s labours, not their own; therefore they are not righteous actors in the earth”, stated the Diggers’ leader Gerrard Winstanley in 1652. While the leader of the London Jacobins, John Thelwall, proclaimed, “Property is nothing but human labour”, Benjamin Franklin, one of the Founding Fathers of the United States, wrote, “Trade in general being nothing else but the exchange of labour for labour, the value of all things is justly measured by labour.”

via In Defence of Marx’s Labour Theory of Value.

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