Note 626 — Chapter V · : PROUDHON AND THE SOCIALISM OF 1848

We must distinguish between this and Marx’s doctrine. Marx believed that all value is the product of labour. Proudhon refuses to admit this. He thinks that value should in some way correspond to the quantity of labour, but that this is not the case in present-day society. Marx was quite aware of the fact that Proudhon did not share his views (see Misère de la Philosophie). Proudhon follows Rodbertus, who taught that the products only and not their values are provided by labour.