Johann Karl Rodbertus
Encyclopedia
Johann Karl Rodbertus also known as Karl Rodbertus-Jagetzow, was a German
economist and socialist from Greifswald
. He defended the labor theory of value
as well as the view, as an inference from that, that interest or profit is theft.
Rodbertus was also known as "Rodbertus-Jagetzow" from the name of the estate of Jagetzow, in Pomerania
, which he bought in 1835. Rodbertus was the son of a professor of law, and himself studied law at Göttingen
and Berlin
. From these studies he went on to Heidelberg
, where he took up philosophy
. He travelled extensively in Holland, France
, and Switzerland
before returning to settle down on his newly purchased estate (Jagetzow).
Rodbertus stated the Labor Theory of Value as three connected propositions. First, only those goods that result from labor may be thought to be economic goods – other goods, like sunlight, which do not result from labor are natural goods and consequently have nothing to do with economics. Second, an economic good is solely the product of the labor – any other view of it is to be left to physicists. No part of the value of grain, for example, is to be attributed to sunshine or soil. Third, economic goods are products of the labor that went into their composition and the labor that created the instruments that enabled that production. The value of grain, for example, is not to be found merely in the ploughman but also in the work of those who manufactured the plough
.
Eugen von Böhm-Bawerk
thought that Rodbertus' exposition of the exploitation theory was superior to that of Karl Marx
in profundity and coherence. Nonetheless, he considered it fallacious, asking whether a nugget of gold that falls to earth embedded in a meteorite would fall outside the purview of economic science. Will someone effortlessly coming across that gold "protect it from the greed of others, prudently dispose of it on the market, in short, husband it with the same economy as he would in the case of gold and silver which he had acquired through the labor of his hands?"
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
economist and socialist from Greifswald
Greifswald
Greifswald , officially, the University and Hanseatic City of Greifswald is a town in northeastern Germany. It is situated in the state of Mecklenburg-Vorpommern, at an equal distance of about from Germany's two largest cities, Berlin and Hamburg. The town borders the Baltic Sea, and is crossed...
. He defended the labor theory of value
Labor theory of value
The labor theories of value are heterodox economic theories of value which argue that the value of a commodity is related to the labor needed to produce or obtain that commodity. The concept is most often associated with Marxian economics...
as well as the view, as an inference from that, that interest or profit is theft.
Rodbertus was also known as "Rodbertus-Jagetzow" from the name of the estate of Jagetzow, in Pomerania
Pomerania
Pomerania is a historical region on the south shore of the Baltic Sea. Divided between Germany and Poland, it stretches roughly from the Recknitz River near Stralsund in the West, via the Oder River delta near Szczecin, to the mouth of the Vistula River near Gdańsk in the East...
, which he bought in 1835. Rodbertus was the son of a professor of law, and himself studied law at Göttingen
Göttingen
Göttingen is a university town in Lower Saxony, Germany. It is the capital of the district of Göttingen. The Leine river runs through the town. In 2006 the population was 129,686.-General information:...
and Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
. From these studies he went on to Heidelberg
Heidelberg
-Early history:Between 600,000 and 200,000 years ago, "Heidelberg Man" died at nearby Mauer. His jaw bone was discovered in 1907; with scientific dating, his remains were determined to be the earliest evidence of human life in Europe. In the 5th century BC, a Celtic fortress of refuge and place of...
, where he took up philosophy
Philosophy
Philosophy is the study of general and fundamental problems, such as those connected with existence, knowledge, values, reason, mind, and language. Philosophy is distinguished from other ways of addressing such problems by its critical, generally systematic approach and its reliance on rational...
. He travelled extensively in Holland, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, and Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
before returning to settle down on his newly purchased estate (Jagetzow).
Rodbertus stated the Labor Theory of Value as three connected propositions. First, only those goods that result from labor may be thought to be economic goods – other goods, like sunlight, which do not result from labor are natural goods and consequently have nothing to do with economics. Second, an economic good is solely the product of the labor – any other view of it is to be left to physicists. No part of the value of grain, for example, is to be attributed to sunshine or soil. Third, economic goods are products of the labor that went into their composition and the labor that created the instruments that enabled that production. The value of grain, for example, is not to be found merely in the ploughman but also in the work of those who manufactured the plough
Plough
The plough or plow is a tool used in farming for initial cultivation of soil in preparation for sowing seed or planting. It has been a basic instrument for most of recorded history, and represents one of the major advances in agriculture...
.
Eugen von Böhm-Bawerk
Eugen von Böhm-Bawerk
Eugen Ritter von Böhm-Bawerk was an Austrian economist who made important contributions to the development of the Austrian School of economics.-Biography:...
thought that Rodbertus' exposition of the exploitation theory was superior to that of Karl Marx
Karl Marx
Karl Heinrich Marx was a German philosopher, economist, sociologist, historian, journalist, and revolutionary socialist. His ideas played a significant role in the development of social science and the socialist political movement...
in profundity and coherence. Nonetheless, he considered it fallacious, asking whether a nugget of gold that falls to earth embedded in a meteorite would fall outside the purview of economic science. Will someone effortlessly coming across that gold "protect it from the greed of others, prudently dispose of it on the market, in short, husband it with the same economy as he would in the case of gold and silver which he had acquired through the labor of his hands?"