The Radical Center
Published in

The Radical Center

Marx, Hitler and the Jews

It seemed like a plausible thesis: the value of a product is determined by the amount of labor needed to produce it. Yet the idea contributed to the appeal of Nazism leading to the Holocaust.

Marx was the best known of the proponents of the labor theory of value. In fact much of his economic system is built on this premise. But Marx didn’t originate the idea. Before him David Ricardo proposed it and before Ricardo there was Adam Smith; who, some say, adopted the idea from the teachings of John Calvin. As Marx said: “A use value, or useful article, therefore, has value only because…

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James Peron

James Peron is the president of the Moorfield Storey Institute, was the founding editor of Esteem a LGBT publication in South Africa under apartheid.