law of value appeared first in a book called in french misere de la philosophie and it was significant
the law of value lrb german  wertgesetz rrb is a central concept in karl marx s critique of political economy  first expounded in his polemic the poverty of philosophy lrb 1847 rrb against pierrejoseph proudhon  with reference to david ricardo s economicssee marx  the poverty of philosophy  chapter 1 part 2 where marx refers to proudhon s own  law of value  and chapter 3  titled  application of the law of the proportionality of value 
the poverty of philosophy lrb french  misre de la philosophie rrb is a book by karl marx published in paris and brussels in 1847  where he lived in exile from 1843 until 1849