I mean, Lincoln famously had some very kind letter exchanges with Karl Marx. I wouldn't call him a Socialist, but its not crazy to say he had some sympathies, at least in theory.
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If this were the only thing he ever said on the topic, it would be enough to guarantee a statue of him atop Mount Socialism, such is the absolute unvarnished truth of it. 😁 "Noted socialist" was intended to be ironic, but you're right, he certainly understood the primacy of labor.
aug 20, 2025, 5:09 pm • 14 2 • view
The labor theory of value was the orthodox theory of value in Marx’s and Lincoln’s time. Classical political economist, like Adam Smith, David Ricardo, and others, held that labor was the source of value. Marx expanded that value theory into a critique of surplus value and capitalist exploitation.
aug 20, 2025, 6:45 pm • 9 0 • view
Based on Lincoln’s other writings we can only really say that he agreed with the orthodox political economy theory of the time. From his words, and policies under his leadership, it seems like he was more influenced by Adams than Marx.
aug 20, 2025, 6:53 pm • 4 0 • view
*Adam Smith
aug 20, 2025, 8:30 pm • 0 0 • view
Adam Smith used the word 'education' EIGHTY Times in Wealth Of Nations. He wrote "read, write and ACCOUNT" FIVE times. Dbl-Entry accounting is 700 yrs old. Why hasn't it been mandatory in schools since 1950? Have Economists heard of him? When/where have economists been advocating accounting?
aug 23, 2025, 11:55 pm • 1 0 • view