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  • Saving Locke from Marx: The Labor Theory of Value in Intellectual Property Theory

  • Edited by Ellen Frankel Paul, Bowling Green State University, Ohio, Jeffrey Paul, Bowling Green State University, Ohio, Fred D. Miller, Jr, Bowling Green State University, Ohio
  • Book:
    Natural Rights Individualism and Progressivism in American Political Philosophy
    Published online:
    05 June 2014
    Print publication:
    27 August 2012, pp 283-317

  • Summary

    This chapter discusses John Locke's argument for his labor theory of value in order to expose the strawman attack on his property theory by contemporary philosophers, especially within intellectual property theory. It addresses how legal scholars have misunderstood Locke's labor theory of value as a normative argument for a property right in economic value. The shibboleth of economic value within critiques of Locke's labor theory of value by philosophers is addressed on its own terms. The chapter identifies the textual and philosophical context in which Locke claims that "mixing labor" creates value in things that one can claim as one's property. It explains how Locke identifies the ultimate source of property in value-creating, productive labor. The chapter also talks about the ultimate source and meaning of Locke's concept of value. Locke endorses some ideas in his labor theory of value that are shared by Karl Marx.