labor theory of value

: a theory of value holding that the quantity of labor in a product regulates its value and utilized by Marx to claim for labor the sole rightful claim to production

Word History

First Known Use

1888, in the meaning defined above

Time Traveler
The first known use of labor theory of value was in 1888

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Dictionary Entries Near labor theory of value

labor spy

labor theory of value

labor the point

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Cite this Entry

“Labor theory of value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/labor%20theory%20of%20value. Accessed 7 Dec. 2022.

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