treated with reference to a specific price index, the monetary expression of labour value (MEV), which accounts for both … Interpretation’ money expression of living labour time, which does not consider the opportunity-cost of capital and, following the … erroneous net value equality, focuses on the money value of the living labour time commanded by commodities at a given wage rate …

’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value of the young Marx in … favour of a ‘mixed’ labour-and capital theory of value reflecting the different theoretical perspective shown by the mature …’ between the net product of the economy and the living labour employed in the production of gross output. A different method …

which both labour and capital are directly productive. The guidelines of an analytical method are proposed. Marx’s ‘monetary … expression of abstract labour-value’ (MEV) is used as price-index. It is preferred to the ‘monetary expression of labour time …’ (MELT), exclusively focused on living labour, suggested by some neo-Marxist scholars during the ’New Value Controversy’. The …

might be thought, the reduction of money categories to labour time categories: though this is desirable particularly when … single source of value added (labour) instead of, as in the standard accounts, the normal three sources of value which are … Marx’s ‘Holy Trinity’ of capital, land and labour. The consequence of bestowing on land and capital the property of …