Messrs. Pooley and Gilder remind us that the book’s themes remain fresh.

Nordhaus offers a modern version of the labor theory of value, which in various versions dates at least to Adam Smith’s “The Wealth of Nations” (1776), often taken to be the beginning of ...

One fundamental point that emerges from my synthetic reading is that the labor theory of value addresses the question of the determination of what Adam Smith called long-period “natural prices ...