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A Monetary Labor Theory of Value
Review of Radical Political Economics, 1989A critical survey of the recent literature on the labor theory of value is offered, focusing upon the view of Marnian labor theory of value as a macroeconomic theory of exploitation within the money circuit of capita L The traditional and the 'new" solutions of the so-called transformation problem are rejected, and it is argued that the purely monetary
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Structure and Practice in the Labor Theory of Value
Review of Radical Political Economics, 1981The Marxian labor theory of value has been criticized in recent years by neoclassical and Sraffian economists as superfluous to the analysis of capitalist economies. It is argued in this paper the usual presentations and de fenses of the labor theory of value are indeed faulty, but the theory itself is never theless indispensable.
Herbert Gintis, Samuel Bowles
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Labor theory of value and the uncertainty in capitalist economy
Frontiers of Economics in China, 2010This article aims to offer a reply to Steedman’s critique of Marx’s labor theory of value. Although this critique having been there for about three decades, the anti-critiques from Marxists are up to date flawed with fatal limitation, losing sight of an important dimension of labor theory of value, i.e., without taking it as a theoretical tool of ...
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Marxian Value Theory and the Labor-Labor Power Distinction
Science & Society: A Journal of Marxist Thought and Analysis, 1996In Volume I of Capital, Marx invokes the distinction between labor power and labor to explain how surplus value might arise from the circuit of capital, given that all commodities exchange at their respective labor values.
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The Labor Theory of Value and Fixed Capital
Review of Radical Political Economics, 1986A new approach to the relationship between the labor theory of value and fixed capital is presented. It is argued that fixed capital is not a joint product. Hence value should be imputed to it differently than to the produced commodities. A mathematical model is developed in which labor values can be imputed clearly and consistently to the commodities,
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Marx without the Labor Theory of Value
Review of Radical Political Economics, 1982An examination of the first few chapters of Capital I with a question in mind: what remains of Marx after the labor theory of value is removed? It is found that there exists a complex structure of concepts, not given sufficient attention in recent literature, which can illuminate the labor process and provide the basis for a notion of exploitation ...
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The value controversy and social theory : an inquiry into Marx's 'labor theory of value'
2010The aim of this study is to establish the key importance of preserving and developing Marx's 'labor theory of value' to the project of reconstructing social theory on an 'historical-materialist' basis. The seminal significance of the conceptualization of 'economic value' to wide bodies of social theory is indicated by the profound impact of the ...
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