Letter: Silent professor

Dear Editors,
I have just been reading the introduction to The Communist Manifesto by A.J.P. Taylor. Some of the criticisms he uses against Marx and marxism I have come across before and I disagree with him. However, he claims that the Labour Theory of Value has been discredited (p.37 in the Introduction). Having read Volume I of Capital. I find it hard to believe that the value of a commodity is not created by the labour power of the workers.

Could you please let me know what theory/argument Mr Taylor has in mind when he says the Labour Theory of Value is no longer credible and whether or not it has any validity (which I doubt).
S H Lodwick
Plymouth

Reply
S.H. Lodwick has a point; where do famously learned people like A.J.P. Taylor find the evidence to support their sweeping condemnations of marxism and its explanation of the workings of capitalist society?

To try to answer this question we wrote to A.J.P. Taylor, some two months ago. telling him that we can’t answer our correspondent’s enquiry and asking for his help in finding the sources his opinions are based on. But on this point Professor Taylor, who is not famous for any reticence in publicising his views, remains mysteriously silent. We have not had a word from him. by way of reply or even acknowledgement. Readers can draw their own conclusions.
EDITORS