Surplus Exploitation Theory of Value – DEBUNKED

by | Aug 23, 2021

… Böhm-Bawerk, in sum, posed the grave inner contradiction of Marxian theory plainly and starkly: Marx claimed that goods exchanged on the market in proportion to the quantities of labor embodied in them (i.e., that their values are determined by the quantity of labor-hours needed to produce them), and yet also conceded that the rates of profit on all goods tended to be equal. And yet, if the first clause is true, the rates of profit would be systematically lower in proportion to the intensity of capital investment, and higher in proportion to their labor-intensiveness of production.

Murray N. Rothbard
Classical Economics, p. 414

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About Keith Knight

Keith Knight is Managing Editor at the Libertarian Institute and host of the Don't Tread on Anyone podcast.

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