Pasinetti's Hyper-Integrated Labor Coefficients and the 'Pure Labor Theory of Value'

2013 ◽  
Author(s):  
Ian P. Wright
Keyword(s):  
Labor Theory Of Value ◽  
Labor Theory ◽  
Theory Of Value

The System is the Solution: Marx's Analysis of Capitalism

1986 ◽  
Vol 48 ◽  
pp. 13-13
Author(s):  
George Galster
Keyword(s):  
Production Process ◽  
Division Of Labor ◽  
Economic Base ◽  
Radical Theory ◽  
Labor Theory Of Value ◽  
Labor Theory ◽  
The Social ◽  
Theory Of Value ◽  
Relationship Of ◽  
Pedagogic Device

The following note describes a skit designed primarily as a pedagogic device to illustrate in a meaningful (and, hopefully, provocative and humorous) way Marx's analysis of capitalism. Numerous concepts and phenomena are “brought to life” in the skit: exploitation, immiseration and alienation of workers, maintenance wage, labor theory of value, mechanization and the division of labor, systemic tendencies toward economic crises, relationship of various superstructural components (welfare, religion, etc.) to the economic base, and the radical theory of the state. More specifically, the economic base of a hypothetical capitalist society consists of a stylized production process involving “resources” (Oreo cookies), “labor” (students selected from the class) and eventually “capital” (table knives). The ability of the monopoly capitalist to accumulate surplus by exploiting workers becomes manifest. Other elements of the social superstructure (unions, government, religion, etc.)

scholarly journals Whose Right to Rest? Contesting the Family Vacation in the Postwar Soviet Union

2009 ◽  
Vol 51 (2) ◽  
pp. 401-425 ◽  
Author(s):  
Diane P. Koenker
Keyword(s):  
Soviet Union ◽  
Human Organism ◽  
Labor Theory Of Value ◽  
Labor Theory ◽  
The Soviet Union ◽  
Personal Worth ◽  
The Family ◽  
Integral Element ◽  
Theory Of Value ◽  
Family Vacation

The idea of leisure and vacations in the Soviet Union at first glance suggests a paradox. As a system based on the labor theory of value, the USSR emphasized production as the foundation of wealth, personal worth, and the path to a society of abundance for all. Work—physical or mental—was the obligation of all citizens. But work took its toll on the human organism, and along with creating the necessary incentives and conditions for productive labor a socialist system would also include reproductive rest as an integral element of its economy. The eight-hour work day, a weekly day off from work, and an annual vacation constituted the triad of restorative and healthful rest opportunities in the emerging Soviet system of the 1920s and 1930s.

scholarly journals Dimensional analysis of price-value correspondence: a spurious case of spurious correlation

2011 ◽  
Vol 69 (274) ◽  
Author(s):  
Alejandro Valle Baeza
Keyword(s):  
Empirical Studies ◽  
Strong Association ◽  
Marxist Theory ◽  
Measures Of Association ◽  
Market Prices ◽  
Labor Theory Of Value ◽  
Spurious Correlation ◽  
Labor Theory ◽  
New Energy ◽  
Theory Of Value

Labor theory of value has received considerable attention among Marxists and their critics. No agreement has been reached as to what labor theory of value is (Foley, 2000), Itoh, 1988; Kliman, 2006; Laibman, 1992 and Mohun, 2000). Paradoxically there are empirical studies showing strong association between labor values and market prices. Such works could inject new energy into Marxist theory of value; nevertheless some critics have questioned such empirical findings because: a) there is a problem of spurious correlation involved, and b) measures of association vary with changes in the physical units of the analyzed merchandises.

Styx: The Anarchy of the Market

2018 ◽  
Author(s):  
William Clare Roberts
Keyword(s):  
Karl Marx ◽  
Self Control ◽  
Market Society ◽  
Moral Criticism ◽  
Labor Theory Of Value ◽  
Labor Theory ◽  
Theory Of Value

This chapter examines part one of Capital, where Karl Marx views capitalism as a market society. It considers the moralizing discourse to which socialism was heir, according to which the market is a sphere of akrasia—incontinence, weakness, lack of self-mastery or self-control—and anarchy, drawing attention to two sets of intellectual influences. First, there is the moral criticism of the incontinence and slavishness of those who frequent the market. Second, there are the early socialist writers who rallied around the figure of Robert Owen. The chapter also discusses the continuity between Owenism and republicanism, the mystery of money and the fetishism of gold, and Marx's contributions to the socialist discourse about the market. Finally, it analyzes Marx's critique of the role played by the labor theory of value in Owenism and Proudhon.

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