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11. Juni 2009 · Karl Marx was the greatest champion of the labor theory of value. The logical problems of this theory have, however, split scholars of Marx into two factions: those who regard it as an indivisible component of Marxism, and those who wish to continue the spirit of analysis begun by Marx without the labor theory of value.
- Steve Keen
- 1993
Given the input side of the pro- ductive process as C=c+v, c is clearly the exchange-value of the means of production, and v is the exchange-value of labor power. The output is a commodity (plus depreciated capital equipment), and the value equation C'=c+v+s quantifies this gross output.
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According to Marx, the gist of Proudhon’s attempt at a dialectic was that things of the lowest utility have the highest value, while those with the highest utility have the lowest value, and labor value provides a reconciliation between these two extremes.
Use-Value, Exchange Value, and the Demise of Marx's Labor Theory of Value. Steven Keen | 1993 | Journal of the History of Economic Thought, Vol. 15, No. 1. Introduction: Karl Marx was the greatest champion of the labor theory of value.
- Journal Article & Book Chapter
- Marxian Political Economy
Use-Value, Exchange Value, and the Demise of Marx's Labor Theory of Value. Author & abstract. Download. 6 Citations. Related works & more. Corrections. Author. Listed: Keen, Steve. Registered: Steve Keen. Abstract. Karl Marx was the greatest champion of the labor theory of value.
Marx's theory of value, exchange and surplus value: a suggested reformulation. Jean Cartelier* The concept of a commodity society based on a specific division of labour (i.e. opposition.
11. Juli 2020 · In Marx’s theory, the essential feature of the ‘market economy’ (of capitalism) is not simply commodity exchange but monetary circulation and money. In capitalism, each commodity is produced not as a mere useful thing, that is a use value, but as a bearer of value, a thing carrying a price.