Testing Marx with Input Output Tables

The paper describes an attempt to use the British Input Output tables and other computer readable British Economic statistics to test hypotheses about the labour theory of value. Inversion of the I/O matrices is used to obtain estimates of values for commodity groups and the correlations between these and prices are computed. The results show a very high level of correlation between values and prices.

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Year of publication:	2004-06-07
Authors:	Cockshott, W. P. ; Cottrell, A. ; Michaelson, G.
Institutions:	EconWPA
Subject:	labour theory of value \| Marx \| Ricardo

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Extent:	application/pdf
Series:	Method and Hist of Econ Thought.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; pages: 19 19 pages
Classification:	B - Schools of Economic Thought and Methodology
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005561044