The object of research is the role of the intellectual capital and knowledge in modern economics and value creation process. Therefore, taking into account the intellectual component of value due to the transformation of the society’s productive forces structure in the transition to a...

"This article is a response to two other articles in this symposium by Tiago Camarinha Lopes and David Laibman. The article focuses mainly on the important question that both Camarinha Lopes and Laibman address in their articles: what does the labor theory of value do that other theories cannot...

Western Marxist scholars take "immaterial labor," "audience labor" and "prosumer labor" as the core categories to explain the problem of the value creation and profit sources of digital capital in online production and consumption activities in the Web 2.0 era. By analyzing the production...

This article, by utilizing Ricardo's numerical examples, derives theoretical statements about the deviations of relative values (prices) from relative labor times. These deviations result from the presence of capital and the distributive variables (rate of profit and wage) and production...

We examine the effects of incorporating a potential tax on carbon emissions into a value investment strategy. We show that in a portfolio optimization problem, a carbon tax at the stock level is mathematically equivalent to a carbon constraint at the portfolio level. Using this insight we derive...

The labour theory of value (LTV) is the cornerstone of the classical and Marxian political economy. In this respect macroscopic phenomena, which include many distinct production processes evolving over long gestation periods, conceal the transformation of labour values into their monetary...

As part of the literature denying Marx's Law of Tendency of Rate of Profit to Fall, the Okishio theorem exerts extensive influence. This theorem uses rigorous mathematical methods in an attempt to prove that the introduction of advanced technology in the basic goods sector of capitalism leads...