The dissertation argues that Marx's analysis of capitalism can still stand without the labor theory of value, using a Sraffian-based commodity theory of value instead. It shows that Sraffa's theory is different from both Marxist and neoclassical theories, and that any commodity can create value and surplus value in this framework. The dissertation reworks Marx's account of the genesis of capital based on this commodity theory of value, suggesting it can replace the labor theory of value in Marx's analysis of capitalism.