Marxist Theory of Value

[John Ryan]

I was wondering if anybody could recommend some good readings on the Marxist theory of value. He seems to have four categories: value, use-value, exchange-value and price. Many non-Marxists assume that "value" and "price" are synonymous in Marx's writings, but Marx surely seems to say that the price of a commodity can be distinct from its value, which is based in labor. I am interested in learning more about how Marx conceived of labor as the genesis of value.

Merci, in advance.

[Jimmie Higgins]

Marx took the labor theory of value from earlier classical economists like Ricardo and Smith.

"Capital" would be the best thing to get a larger sense of Marx's ideas. But for a start, you might want to read "Value, Price, and Profit" which was a long speech he gave arguing against socialists who thought that raising wages would increase the price of commodities. So Marx clarifies a lot of his views in relatively concise ways:

http://www.marxists.org/archive/marx/works/1865/value-price-profit/index.htm