In Invisible Leviathan, Murray E.G. Smith refutes the main criticisms of Marx’s theory of labour value and argues that human civilization is imperilled by the capitalist imperative to measure wealth in terms of ‘abstract social labour’ and money profit.

In Invisible Leviathan, Murray E.G. Smith refutes the main criticisms of Marx's theory of labour value and argues that human civilization is imperilled by the capitalist imperative to measure wealth in terms of 'abstract social labour' and money profit.

The text is broad-ranging, integrating eleven studies that consider the theory of labour-value from historical, philosophical, and economic perspectives. Smith incorporates a thorough review of the controversy that has raged around Marx's theory of labour-value, reporting the key arguments of orthodox Marxists, neo-Ricardians, neo-orthodox Marxists, and fundamentalist Marxists. He concludes that the Marxian theory of labour-value remains a logically coherent and theoretically sound basis for understanding capitalism's historical-structural crises. Also included is a reconsideration of Marx's law of the falling tendency of the rate of profit along with a statistical analysis of long-term trends in the Canadian economy that lend support to Marx's vies.

For example, he describes how: --

A “compelling” (Los Angeles Times) tale of friendship, betrayal, estrangement, and the unpredictable intrusions of violence in the everyday – from the author of the forthcoming 4 3 2 1: A Novel "Six days ago, a man blew himself up by the side of a road in northern Wisconsin. . . ." So begins the story by Peter Aaron about his best friend, Benjamin Sachs. Sachs had a marriage Aaron envied, an intelligence he admired, a world he shared. And then suddenly, after a near-fatal fall that might or might not have been intentional, Sachs disappeared. Now Aaron must piece together the life that led to Sach's death. His sole aim is to tell the truth and preserve it, before those who are investigating the case invent an account of their own.

Conklin's thesis is that the tradition of modern legal positivism, beginning with Thomas Hobbes, postulated different senses of the invisible as the authorising origin of humanly posited laws. Conklin re-reads the tradition by privileging how the canons share a particular understanding of legal language as written. Leading philosophers who have espoused the tenets of the tradition have assumed that legal language is written and that the authorising origin of humanly posited rules/norms is inaccessible to the written legal language. Conklin's re-reading of the tradition teases out how each of these leading philosophers has postulated that the authorising origin of humanly posited laws is an unanalysable externality to the written language of the legal structure. As such, the authorising origin of posited rules/norms is inaccessible or invisible to their written language. What is this authorising origin? Different forms include an originary author, an a priori concept, and an immediacy of bonding between person and laws. In each case the origin is unwritten in the sense of being inaccessible to the authoritative texts written by the officials of civil institutions of the sovereign state. Conklin sets his thesis in the context of the legal theory of the polis and the pre-polis of Greek tribes. The author claims that the problem is that the tradition of legal positivism of a modern sovereign state excises the experiential, or bodily, meanings from the written language of the posited rules/norms, thereby forgetting the very pre-legal authorising origin of the posited norms that each philosopher admits as offering the finality that legal reasoning demands if it is to be authoritative.

Written during a moment in English history when the political and social structures were in flux and open to interpretation, Leviathan played an essential role in the development of the modern world.