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Marx without the Labor Theory of Value


  • Geoff Hodgson

    (School of Economics, Newcastle upon Tyne Polytechnic, Newcastle upon Tyne, NEI 8ST, United Kingdom)


An examination of the first few chapters of Capital I with a question in mind: what remains of Marx after the labor theory of value is removed? It is found that there exists a complex structure of concepts, not given sufficient attention in recent literature, which can illuminate the labor process and provide the basis for a notion of exploitation without the labor theory of value. The purpose is not to provide another critique of the labor theory, but to suggest a "reading" of Marx in the above terms.

Suggested Citation

  • Geoff Hodgson, 1982. "Marx without the Labor Theory of Value," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 59-65, June.
  • Handle: RePEc:sae:reorpe:v:14:y:1982:i:2:p:59-65

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