Ricardo's theory of value and distribution is reconstructed by proceeding along the lines of Marx's critique of Ricardo. It is thus an anti-critique of Marx's reading of Ricardo. The chapter 'On Value' in Ricardo's Principles is shown to be a consistent and rigorous treatment of the determinants...

The two main critiques of the labour theory of value - the critique of contradiction and the critique of redundancy - are presented along with the history of the debate on the transformation problem of values into production prices. The paper argues that the overall shift from the critique of...

Since Adam Smith's ambiguous endorsement of neo-classical thought in his 18th Century Wealth of Nations, mainstream economists have followed his lead, and embraced neo-classical economics or marginalism and 'forgot' its forerunner: Classical Economic Theory (sometimes called the Labour Theory of...

Drawing inspiration from aspects of the sensationist philosophy of the time and also the political philosophy of Jean-Jacques Rousseau, Jean-Joseph-Louis Graslin (1727-1790) - a fierce critic of Physiocracy - developed a remarkably coherent political economy based on a 'three stages' theory...

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...

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...