History and Criticism of the Labor Theory of Value in English Political Economy

Published in 1904, 'History and Criticism of the Labor Theory of Value in English Political Economy' by Albert C. Whitaker is a scholarly examination of the evolution of the labor theory of value among English economists. The work distinguishes between philosophical and empirical approaches to value, tracing the doctrine from Adam Smith to John Stuart Mill. Whitaker critiques the inconsistencies in Smith's treatment of labor and highlights the contributions of Ricardo and others, ultimately framing the labor theory within the context of market prices and costs. This text is notable for its historical analysis of economic thought and its critical perspective on classical economics.