A deconstruction of the Marxian theories of value and exploitation is attempted by arguing, first, that the labour theory of value is logically and methodologically inconsistent as a basis for a theory of capitalist exploitation and, second, that it is founded on an ontology of the social being...

A hysteresis equation is proposed in which changes in inflation depend on the rate of change of employment. To justify this equation it is assumed that wage claims are fixed by insiders, that the workers' bargaining strength is inversely related to the fear of losing their Jobs, and that the...

Freedom of choice in consumption activity can be represented by opportunity sets that are bounded by both budget and time constraints. I argue that, in a society in which income is distributed more unequally than leisure time, a government aiming at leaving freedom distribution unaltered should...

Marx’s theory of labour value is flawed. This note summarizes the main reasons why this is so. At the same time, it claims that the theory of exploitation does not depend on a labour embodied valuation and can be expounded by resorting to the theory of production prices. Almost all Marxists...

This paper presents a model and some empirical findings on the wage-conflict curve. The theory is based on the view that two kinds of information asymmetries affect the process of wage fixing: firms have to cope with a moral hazard behavior in the supply of work effort, whilst workers have to...

In this paper I present a measure of freedom for opportunity sets which are bounded by both budget and time constraints. Then I show that, in a society in which income is distributed more unequally than leisure time, a government aiming at leaving freedom distribution unaltered should apply...

Marx develops two alternative theories of the employment contract: one treats it as an agreement of commodity exchange, and one as a relational arrangement. In the former theory Marx introduces the notion of 'labour power' as a physical stock of labour capacity. Then he argues that the worker,...

In this paper I present a measure of freedom for opportunity sets which are bounded by both budget and time constraints. The proposed formula applies to the intersection of two different sets, one of which is bounded by the availability of purchasing power, while the other is bounded by the...

In this note, I present a criticism of Guglielmo Carchedi's synthesis of the Temporal Single System (TSS) approach to value theory. My main criticisms are as follows. First, Carchedi adopts an essentialist, and indeed rather mystical, interpretation of Marx's value theory; second, his notion of...