George Gilder and Gale Pooley rightly note that a useful measure of how much things cost is how long we must work to earn enough to purchase them (“We Should Measure Prices in Time,” op-ed, April 17).

Although Adam Smith is well-known for emphasizing division of labor, his analysis was woefully incomplete, as Dr. Mark Thornton points out.

I’m writing on Labor Day, so of course, I’m thinking about all the pathetic confusions on this whole topic. The number one fallacy is the labor theory of value. The idea here is that things and ...

At the center of Marx’s critique of capitalism is a labor theory of value. Namely, the notion that treating labor as a commodity to buy and sell alienates workers from the act of production, causing ...

Karl Marx’s economic theory is founded on the labour theory of value. In Marx’s Theory of Value at the Frontiers, Güney Işıkara and Patrick Mokre make a valuable contribution to Marxist economics, ...