[lbo-talk] Open Letter from a Keynesian to a Marxist by Joan Robin son

c b cb31450 at gmail.com
Mon Jul 18 10:37:11 PDT 2011


Angelus Novus

Jim Farmelant:


> Joan Robinson abjured the label of Marxist because she rejected both the
> labor theory of value

In a review of Edmund Wilson's _To The Finland Station_ written many decades ago, CLR James remarked that Marx's value theory is more properly referred to as a value theory of labor, not a "labor theory of value".

Jame's distinction is key, and great Marxian thinker that he was, he knew what Marx was getting at.

Anytime some self-proclaimed critic of Marx speaks of an alleged "labor theory of value" by Marx, i.e. anytime they demonstrate that they think "Marx" is the German word for "Ricardo", that's an indication that they have nothing serious to say about Marx.

^^^^^^^ CB: Actually, Engels, who of course knew Marx and his theory better than anyone else, termed it "the law of value".



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