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Nonstandard labour values

The paper argues that the standard definition of labour value assumes that capitalists abstain from consumption during the period of replacement. The non standard definition of labour value assumes that capitalists consume. Both the transformation problem and the problem of an invariable measure of values are necessary consequences of standard labour values. In constrast, non standard labour values resolve both classical contradictions.
Year of publication:
2007-11
Authors: Wright, Ian
Institutions: Department of Economics, Open University
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Type of publication: Book / Working Paper
Notes:
Number 69 66 pages
Source:
Persistent link: https://www.econbiz.de/10005198464
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