A systematic history and critique of the labor theory of value in English political economy, tracing its evolution from varied early accounts through Adam Smith’s multiple formulations to Ricardo’s cost-of-production thesis and subsequent refinements. The study contrasts philosophical and empirical approaches to value, examines difficulties raised by skilled and indirect labor, and analyzes how the introduction of capital, interest, and the organic composition of capital complicated a simple labor measure. Chapters survey responses from nineteenth-century writers and show how sustained criticism and theoretical adjustments ultimately displaced a pure labor-based account of value.