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...

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...