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Use-Value, Exchange Value, and the Demise of Marx's Labor Theory of Value. Published online by Cambridge University Press: 11 June 2009. Steve Keen. Article. Metrics. Get access. Cite. Rights & Permissions. Extract. Karl Marx was the greatest champion of the labor theory of value.
- Steve Keen
- 1993
Use-Value, Exchange Value, and the Demise of Marx's Labor Theory of Value. March 1993. Journal of the History of Economic Thought 15 (01):107-121. DOI:...
USE-VALUE, EXCHANGE VALUE, AND THE DEMISE OF MARX'S LABOR THEORY OF VALUE BY STEVE KEEN I. INTRODUCTION 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 compo-
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However the quantity which Marx gave for the use-value of a machine was c—which is also its exchange-value. The identification of c as both the exchange-value and the use-value of the means of production was a feature of every numeric example given by Marx, in all of his economic works.
Use-Value, Exchange Value, and the Demise of Marx's Value Theory of Labor. Steve Keen. Journal of the History of Economic Thought, Vol. 15, Issue 1, 1993. Level: expert. Perspective: Marxian Political Economy. Topic: Criticism of Capitalism, Labour & Care, Reflection of Economics. Format:
- Journal Article & Book Chapter
- Marxian Political Economy
Use-Value, Exchange Value, and the Demise of Marx's Labor Theory of Value. Steve Keen ( debunking@gmail.com ) Journal of the History of Economic Thought, 1993, vol. 15, issue 1, 107-121. Abstract: Karl Marx was the greatest champion of the labor theory of value.
10. Sept. 2020 · When asked about the subject, they will proclaim that Marx’s labor theory of value has been discredited, for even Marx was forced to admit that the average prices of commodities deviate from their labor values, and his own mathematical attempts to translate values into prices failed.
