I have recently come across the following; are they fallacies, in what sense of the term,
and which fallacy?
  
Wages Fund Theory-a fund for supporting labor over the production period.  Funds destined
for the support of labor who produces more than their wages the excess being the return to
capital.  Wages are at the subsistence level.  Marx carries this illogical thing to its
logical conclusions.
  
Smith chapter 5-talked the language of a labor theory of value-labor a determinant of
value-that labor is the essence of value-things have value because of pain-pain the basis
of desert.  Genesis 3:16 ?  In the sweat of thy face shall thou eat bread-a fallacy in
economics.
  
Warren Samuels