This paper disproves Hashimoto's labor theory. His topic is nothing but a bargaining problem. His setup is logically wrong. His solution contradicts his objective. When he abandons his solution to opt for other alternatives, he breaks up his own model. This paper also proves that Hashimoto's...

This text deals with the analysis of the phenomenon of heterogeneity in capitalist economies with the presence of sectors that are known, in different theoretical traditions, as “informal”, “marginality”, “popular economy”, etc. This is made with Marxist categories and from the...

This paper highlights the separation between surplus value production and realization in Marx's work. A new method of estimating surplus value production at the industry level is proposed and implemented. Marx's procedure of transforming labor values into prices of production shows that...

The fields of Political Economy and Input-Output economics are commonly unrelated due to the discrepancy between the qualitative and quantitative analysis in economic science. With the aim to overcome this separation, this paper relates the basic model of Production of Commodities by Means of...

Karl Marx's magnum opus, Das Kapital, presents an analysis of the long run dynamics of a mature capitalist economy. The analysis is conducted at two primary levels of abstraction - "capital in general" (where competition between individual capitals is abstracted from) and "many capitals" (where...

Work is seen by many thinkers as the fundamental dimension of man`s existence on earth. Through work, he provides his basic necessities on earth and co-operate with God in the work of creation. He received this mandate to work from the very beginning of creation by God. In carrying out this...

This paper analyses the normative and positive foundations of the theory of exploitation as the unequal exchange of labour (UEL). The key intuitions behind all of the main approaches to UEL exploitation are explicitly analysed as a series of formal claims in a general economic environment. It is...