The Theory of Labor Value: the Modern Utterance in the Context of Economics

Theoretical discussions about modernity are among the basic themes in the modern Western movements of thoughts.The theory of labor value,established by Adam Smith,not only vindicates the validity of modernity from the perspective of economics,but also shows the limit of modernity in the depths of the history.With the criticism of the theory of labor value,Marx regards modernity as the course of self-negation and self-development,and accordingly accomplishes the practical criticism of modernity and surpasses it in the context of economics.