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...

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 presents a modern response to the problem imposed by Marx in Capital in 1867, “to lay bare the economic law of motion of modern society” and to provide a vision on how on the basis of this law of motion the transformation of the capitalist mode of production to the socialist mode...

This comment deals with Lipietz's presentation of a solution which had been proposed to the transformation problem. Lipietz's account can be criticized in two respects. First, his attempt to integrate the familiar Morishima-type approach with the newer one is based on a confusion between the...

Ronald Meek has (deliberately) ignored a very important discovery of Jevons. When labour is measured in terms of marginal labour values prices are proportional to these values and commodities exchange accordingly. This has been rediscovered by Soviet economists and that has been published in the...

Abstract: This paper is aimed at discussing Mandler’s interpretation of Sraffa’s price theory. In particular we will analyse Mandler’s idea that an institutional determination of distribution, suggested by Sraffa, could be solidly advanced only in the case of equilibrium price...

El objetivo del presente ensayo es entrar en la discusión sobre de un tema tan especial en la teoría económica como es el dinero. Para esto, se analizará una teoría de vital importancia en el estudio de la economía, es decir, la teoría propuesta por Karl Marx, en la cual el dinero es de...

This essay provides a simple, non-technical reformulation of Marx’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value and of the ‘new value’ equality between the net product of the economy and the living labour employed in...

A typical finding in many empirical studies is that the production price-profit rate relationship is, by and large, monotonic. This paper derives, in terms of the usual single-product model, the spectral conditions that make possible the appearance of such monotonicity. Furthermore, using data...