In recent years, there has been a resurgence of interest in the controversies surrounding capital theory. At the heart of these debates are the empirically observed near-linearities in the price-rate of profit and wage rate of profit curves. This article posits that these near-linearities can be...

Russian Abstract: В статье анализируются ошибочные аргументы Туган-Барановского, Борткевича и Стидмена, которые до сих пор используются критиками теории трансформации...

This paper presents the microeconomic partial and general economic equilibrium analysis of monopoly power in terms of labour values. In the partial analysis it is shown that the monopolistic mark-ups above marginal cost do not constitute labour values but real bubbles of values which prevent the...

The input-ouput model remains the basis of most SAM or CGE models. It actually uses two periods: the prices indexes solve it with the current period coefficients; the corresponding physical model is monoperiodic: the current prices solve it with the base period coefficients. The Leontief model...

This article presents the marginal approach to the labour theory of value. The difficulties of the classical and Marxian labour theory of value are overcome when labour value is understood as marginal labour value analogously to marginal cost. Marginal labour value is the reciprocal of the...

The aim of this essay is to join the discussion on an important issue in economic theory like is the money. For this, we shall analyse an important theory in economics; this theory was proposed by Karl Marx, where the money has a great importance to understand the development of the economic...

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...

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...

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...

This paper criticises the generally accepted definition of labour value as first put forward by Nobuo Okishio as seriously faulty and in contradiction with the theory of cost. The shortcomings of this Cold War Definition of Labour Value are so obvious that it is difficult to understand how an...