Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324928 
Year of Publication: 
2023
Citation: 
[Journal:] Journal of Contextual Economics – Schmollers Jahrbuch [ISSN:] 2568-762X [Volume:] 143 [Issue:] 1/4 [Year:] 2023 [Pages:] 105-121
Publisher: 
Duncker & Humblot, Berlin
Abstract: 
Commentators often follow David Ricardo in looking, especially, at chapters Vand VI of Book I of Adam Smith's Wealth of Nations as the place to find his theory of value. And most commentators attribute to Adam Smith some versions of a labor theory of value. But in those chapters, Smith is looking for a stable unit of measurement of value and the reservation price of bringing goods to market. We thus suggest that the labor theory of value in Smith is a Ricardian construct, not a Smithian one.
Subjects: 
Adam Smith
David Ricardo
Labor Theory of Value
Wealth of Nations
JEL: 
B12
D33
D46
P42
P44
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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