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Ep. 512 The Rise and Fall of the Labor Theory of Value
Episode 51215th June 2026 • Bob Murphy Show • Robert Murphy
00:00:00 00:35:45

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Relying on his Journal of Libertarian Studies review essay of Kevin Carson' book on mutualism, Bob first explains--and then critiques--the labor (and cost) theory of economic value. This was not exclusively a Marxist idea; it was held by Adam Smith and other classical economists.

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