Comment Re:This thought crosses my mind a lot. (Score 1) 808
You will notice you were the one claiming it was Locke's work, not me. So the fact that Adam Smith lived after Locke doesn't contradict a single line I wrote. I will give I wrote 19th century on my first post when I should have written 18th (Mill and MacCulloch), tho. That was particularly lazy of me.
The fact capitalism existed before Smith is irrelevant, as we both know (interesting to notice since there are other people reading). The point being that the existence of capitalism and one of the economic theories that explain/analyse it was two separate things.
Actually, I think our only point of content is: was Locke the first one to create the labour theory of value? I really don't think so. I checked my notes here (I wrote a paper about it a couple months ago), but I have to confess I don't have my economy books around. My notes point to James MIll and MacCulloch being the first ones to create a pure labour theory of value, after removing capital (David Richard = labour + capital) and land (Adam Smith = labour + capital + land) from the equation.
Saying Locke's theory are the basis is like saying Aristotle's theories are the basis for it all. It is technically correct, but it doesn't mean Aristotle created the labour theory of value either.
But I promise you I will check my reference books again tomorrow, but I do ask you to do the same, since I sincerely believe you are mistaken.