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Sunday, December 16, 2012

Malthus on the Labor Theory of Value

"But it seems very strange and incorrect to consider mere labour as wealth. No one would give anything for it if he were sure that it would yield no gratifying result. It is in the expectation of this result alone that labour is employed. The sick man employs a physician, not because he's pleased with the trouble which he gives him, but because he expects that his health may be benefited by the advice which he receives." -- Principles of Political Economy, pp. 28-29

4 comments:

  1. Hmm I don't see this as critique. This is just a comment on the difference between use and exchange value, is it not?

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  2. Critique? Who said "critique"? I said "on."

    ReplyDelete
    Replies
    1. Yeah but it is surely a critical comment.

      Delete
  3. Excellent criticism from Malthus

    ReplyDelete