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Johann Karl RodbertusGerman economist and socialist
Date of Birth: 12.08.1805
Country:  Germany |
Content:
Biography of Johann Karl Rodbertus
German economist and socialist Rodbertus is known as a Prussian political figure and one of the founders of the economic theory of "state socialism." He defended the labor theory of value and also authored works on land rent and profit. Johann Karl Rodbertus, also known as Johann Karl Rodbertus-Jagetzow, was born on August 12, 1805, in Greifswald, Swedish Pomerania. The name "Rodbertus-Jagetzow" comes from his estate "Jagetzow" in Pomerania, which he acquired in 1835. Rodbertus was the son of a law professor and himself studied jurisprudence in Göttingen and Berlin. With his knowledge, Johann laid the necessary foundation to engage in philosophy in Heidelberg. He traveled extensively in the Netherlands, France, and Switzerland before returning and settling in his recently purchased estate.
Contributions to Economic Theory
Rodbertus put forward the principles of economic theory, which can be summarized in three points. Firstly, only goods that are the result of labor can be considered economic. Other goods, such as sunlight, are "products" of nature and have nothing to do with economics. Secondly, economic goods are goods that are exclusively produced by the economy; any other viewpoint should be left to physicists. No part of the value of grain, for example, should be tied to the soil or sunlight. Thirdly, economic goods are products of labor, which includes both physical labor and the tools used to perform the work. Thus, the value of grain, for example, includes not only the labor of agricultural workers but also the labor of those who made the plow.
Rodbertus's labor theory of value was based on these interconnected statements. He argued for the normalization of the workday and the pricing of all products according to the amount of normal working time. He also proposed the establishment of a special monetary symbol certifying the amount of completed normal labor. Additionally, he advocated for the organization of self-owned stores where labor money could be exchanged for products based on their labor value. Austrian economist Eugen von Böhm-Bawerk considered Rodbertus's exposé of the exploitative theory to be superior to Karl Marx's variant in terms of the sequence of explanation and the depth of the theory. However, Rodbertus clearly did not understand the nature of abstract labor that affects value. He also failed to explain the mechanism of surplus value formation from a scientific standpoint. He was unable to resolve the problem of transforming value into the price of production, nor provide a coherent explanation for the existence of the average rate of profit.
Social and Political Views
Rodbertus rejected class struggle and saw the reform of the bourgeois state as a solution to social problems. He introduced several projects to economists of his time aimed at strengthening the socio-economic position of the junker class, the large landowners in Germany who had evolved into capitalist enterprises, and perpetuating privileged classes.
Johann Karl Rodbertus passed away on December 6, 1875, at the age of 70 in Felshove, Mecklenburg-Vorpommern.
