The aim of this paper is to show that the ‘pure labour theory of value’, as price theory, does not hold even at zero rate of profits, unless a very strong and restrictive assumption is made, i.e., invariable methods of production used through time. It is maintained that the above assumption...

Keynes’ General Theory has been without a doubt the most disputed and controversial work in economics of the past century. As is well known, Keynesian ideas spread quickly throughout the world, immediately raising quite deep and long lasting controversies on theoretical as well as on political...