"This article is a response to two other articles in this symposium by Tiago Camarinha Lopes and David Laibman. The article focuses mainly on the important question that both Camarinha Lopes and Laibman address in their articles: what does the labor theory of value do that other theories cannot...

In his macro-monetary interpretation of Marx's theory of value, Fred Moseley claims that Marx's prices of production should be considered as the long-run equilibrium condition of capital reproduction under the assumption of given technology and given capital distribution. Moseley's...