Publisher's Synopsis
Excerpt from History and Criticism of the Labor Theory of Value in English Political Economy, Vol. 19
The classical theory of value regulation was composed of two separate accounts. That is, these two accounts were of distinct origin and nature, and should have been kept distinct. Instead of this they were more or less fused and the relation between them was always clouded. To this fact is due the great difficulty all must experience in rmching a complete understanding of the classical theory. Though it is for this reason very necessary to give the accounts separ ate names, it seems impossible to find unobjectionable terms. Professor von Wieser, from whom I have taken the ida that the confusion between these two accounts is the key to the history of the labor theory of value, distinguishes them by the terms philosophical and empirical.
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