Classifier Instance:

Anchor text: Adam Smith
Target Entity: Adam_Smith
Preceding Context: When speaking in terms of a labour theory of value, value, without any qualifying adjective should theoretically refer to the amount of labour necessary to the production of a marketable commodity, including the labour necessary to the development of any real capital employed in the production. Both David Ricardo and Karl Marx attempted to quantify and embody all of the labour components in order to set the real price, or natural price of a commodity. The labour theory of value, as presented by
Succeeding Context: , however, did not require the quantification of all past labour, nor did it deal with the labour needed to create the tools (capital) that might be employed in the production of a commodity. The Smith theory of value was very similar to the later utility theories in that Smith proclaimed that a commodity was worth whatever labour it would command in others (value in trade) or whatever labour it would "save" the self (value in use), or both. But this "value" is subject to supply and demand at a particular time.
Paragraph Title: Definitions of value and labour
Source Page: Labor theory of value

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