How the Labor Theory of Value Emerges from Egalitarianism – Economics from the Top Down

How the Labor Theory of Value Emerges from Egalitarianism – Economics from the Top Down

In the 1860s, Karl Marx declared that all value stemmed from labor. A century-long firestorm ensued. On its own, Marx’s claim seems innocent enough. But what made it incendiary was how he used it. Starting from the idea that labor creates value, Marx built a seductive critique of capitalism.