The fact that the term labour theory of value is not used in Marx
is hardly significant. Do Smith or Ricardo use the phrase either?
It is a label applied retrospectively to distinguish these thinkers
from those who came after who had a utility theory of value. One
can hardly expect them to have had the foresight to distinguish
themselves from an as yet uninvented theory.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html