This paper criticises the generally accepted definition of labour value as first put forward by Nobuo Okishio as seriously faulty and in contradiction with the theory of cost. The shortcomings of this Cold War Definition of Labour Value are so obvious that it is difficult to understand how an...

This paper uses the mode of production of the hunter-gatherers as a background to explain basic economic concepts, in particular the meaning of the labour theory of value and it's relationship to optimization of resources. A proof of the marginal value theorem is presented. A new term is...

This paper is the first part of a Marxian critique of the theory of the firm, focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter marginal analysis is introduced, culminating in the derivation of the Labour Value Function as the supply curve of the...

This paper is the first part of a Marxian critique of the theory of the firm, focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter marginal analysis is introduced, culminating in the derivation of the Labour Value Function as the supply curve of the...

The objective of this article is to examine four theories that consider an explanation and measurement for the value of liquidity. Liquidity will be understood as cash, that is, we are leaving aside assets of lesser degree of liquidity than cash. The article begins with the Keynesian view about...

This article starts with definitions of value and profit and constructs a new interpretation of the economic crisis. Exchange of goods stems from different people's different judgments on the value of goods, and twice exchanges of goods lead to commercial profits. Production profit is...

This paper presents the microeconomic partial and general economic equilibrium analysis of monopoly power in terms of labour values. In the partial analysis it is shown that the monopolistic mark-ups above marginal cost do not constitute labour values but real bubbles of values which prevent the...

Hermann Heinrich Gossen is generally known as the predecessor of Walras, Menger and Jevons in preparing modern economic analysis. What is generally not known is his Fundamental Theorem as a marginal approach to the labour theory of value. This paper presents his Fundamental Theorem in terms of...

This paper is the first part of a Marxian critique of the theory of the firm, focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter, marginal analysis is introduced, culminating in the derivation of the Labour Value Function, as the supply curve of the...

This article presents the marginal approach to the labour theory of value. The difficulties of the classical and Marxian labour theory of value are overcome when labour value is understood as marginal labour value analogously to marginal cost. Marginal labour value is the reciprocal of the...