Marx's economic teachings are essentially a garbled rehash of the theories of Adam Smith and, first of all, of Ricardo.
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Ludwig von Mises (1957), Theory and History: An Interpretation of Social and Economic EvolutionKarl Marx
The physiocrats started a train of thought which was a powerful stimulus to the development of a labour theory of value and surplus value.They did not, however develop such a theory of value themselves. What attention they gave to the problem of exchange-value and price produced results of an altogether different character. Thus while one of their contributions finds its continuation in Smith, Ricardo, and Marx, the other leads to the post-classical supply and demand and utility theories of value.
Eric Roll
Adam Smith and Malthus and Ricardo! There is something about these three figures to evoke more then ordinary sentiments from us their children in the spirit.
John Maynard Keynes
If I were five-and-twenty or thirty, instead of, unhappily, twice that number of years, I would take Adam Smith in hand—I would not go beyond him, I would have no politics in it—I would take Adam Smith in hand, and I would have a League for free trade in Land just as we had a League for free trade in Corn. You will find just the same authority in Adam Smith for the one as for the other; and if it were only taken up as it must be taken up to succeed, not as a political, revolutionary, Radical, Chartist notion, but taken up on politico-economic grounds, the agitation would be certain to succeed; and if you apply free trade in land and to labour too—that is, by getting rid of those abominable restrictions in your parish settlements, and the like—then, I say, the men who do that will have done for England probably more than we have been able to do by making free trade in corn.
Richard Cobden
Keynes himself had in his day been known to make some fairly radical noises, for instance, calling for the complete elimination of that class of people who lived off other people's debts-"the euthanasia of the rentier," as he put it-though all he really meant by this was their elimination through a gradual reduction of interest rates. As in much of Keynesianism, this was much less radical than it first appeared. Actually, it was thoroughly in the great tradition of political economy, hearkening back to Adam Smith's ideal of a debtless utopia but especially David Ricardo's condemnation of landlords as parasites, their very existence inimical to economic growth.
John Maynard Keynes
Marx, Karl
Mary (mother of Jesus)
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