this post was submitted on 13 Mar 2026
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Marx openly states throughout his works that Smith basically got the overtures right but came to the wrong conclusions. LTV comes from Smith.
He also quotes this passage specifically in an affirming manner, I think.
Indeed, reading Smith and then Marx is basically the equivalent of learning Newtonian mechanics then learning about GR. I'm sure Smith would probably agree with Marx on a lot of things, since Marx had the benefit of decades of development of the mercantile system that Smith was investigating.