In the latest episode of the IEA Podcast, IEA Communications and Public Affairs Officer Kieran Neild-Ali sat down with IEA Head of Political Economy Dr Kristian Niemietz to discuss the labour theory of value.
Many economists subscribed to the labour theory of value, which argued that a good’s value derived from the amount of work that went into making it.
The theory has since been unravelled and replaced in the last century by a different theory produced by the Austrian School of economics.
But the theory is still an important topic of discussion as it was the basis of Marx’s critique of capitalism. And many detractors of capitalism still use the labour theory of value .
Do economic sanctions work? | Markets & Morality
Interest rates: How to control inflation?
The Swift Half with Snowdon ft. Martin Durkin
Explained: Libertarian Socialism
In Conversation with Nigel Farage
Are our millionaires taxed enough?
The Swift Half with Snowdon ft. Konstantin Kisin
Live with Littlewood – with John Ashmore, Martin Durkin, Tom Harwood and Victoria Hewson
Has the nudge theory failed?
Why is Biden slipping in the polls?
Understanding collectivist politics
Simon Clarke MP speech to the IEA on public spending
The Swift Half with Snowdon ft. Johan Norberg
Is a football regulator necessary?
Spring Statement Live with Littlewood
What is cognitive economics?
Should we support higher defence spending? | Markets & Morality
The Swift Half with Snowdon ft. Geoff Norcott
How will Ukraine recover after the war?
Create your
podcast in
minutes
It is Free