Theories of Surplus Value.

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Theories of Surplus Value. The notion of surplus value, while articulated by Marx in its most advanced form, under different names, has a long pre-history that can be traced all the way back to William Petty. Tracing a historical lineage from Petty to Physiocrats, from Smith to Ricardo, and finally to Marx, write an essay that explains the development of a concept. In your response, make sure that you address the categories of produit net, net product, profit, rent, substance wage, value of labor and value of labor power. Also, your answer should be address the historical context within which these concepts are articulated. Make sure to refer to
Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations. Amherst, NY: Prometheus, 1991 [1776], 36-67.
David Ricardo. “On Value.” In The Principles of Political Economy and Taxation. London: Everyman’s Library, 1911 [1817], 5-32.
Karl Marx. Capital, Volume 1. Translated by Ben Fowkes. Harmondsworth: Penguin/NLR, 1976 [1867], 247-280.
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