First published 1985

"Classical Economics vs. the Exploitation Theory"

Name: "Classical Economics vs. the Exploitation Theory"
Author: George Reisman

This essay originally appeared in The Political Economy of Freedom Essays in Honor of F. A. Hayek, Edited by Kurt R. Leube and Albert H. Zlabinger (München and Wien: Philosophia Verlag, The International Carl Menger Library, 1985). Apart from a few changes in wording and the addition of a few paragraphs, the present version differs mainly in that endnote references have been updated to refer to works not in existence in 1985, in particular the author's book Capitalism: A Treatise on Economics (hereafter referred to simply as Capitalism) and his translation of Böhm-Bawerk's essay "Value, Cost, and Marginal Utility."Updated January 15, 2007

"Classical Economics vs. the Exploitation Theory" by George Reisman is available as a free HTML download at freecapitalists.org.

Author: George Reisman
First published: 1985
Format: HTML
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Austrian theory & method

Reisman defends classical economics against Marxist exploitation theory, examining the logical foundations of both approaches to value and income distribution.

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About the author

George Reisman b. 1937

George Reisman (born 1937) is Pepperdine University Professor Emeritus of Economics and the author of Capitalism: A Treatise on Economics. Read more about George Reisman.

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