This paper tackles the puzzle of Ricardo’s stubborn commitment to a labor theory of value that he himself saw as no more than an approximation to reality and which was heavily opposed by Malthus, his most respected contemporary. We show it is wrong to think that the theory had no analytical...

In diesem Beitrag geht es um subjektive Gerechtigkeitsvorstellungen, nicht Gerechtigkeit an sich, da erstere im Gegensatz zu letzterer empirisch feststellbar und handlungswirksam sind. Allerdings müssen ihre Folgen nicht nur gute sein. Gerechtigkeitsvorstellungen können erstens die...

Heinsohns und Steigers These, daß das Geld nicht als technisches Neutrum zur Verbesserung des Tauschens, sondern aus den Modalitäten von Gläubiger-Schuldnerkontrakten einer Privateigentümergesellschaft entstanden sei (Heinsohn, 1984: Kap. 4; auch: Heinsohn/Steiger, 1983), hat einen...

Answering the call for a new theoretical approach to Corporate Social Responsibility (CSR), this paper makes a suggestion from a Weberian perspective. It briefly appraises the existing research on CSR and develops key points of a new approach based on their criticism. Suggesting that CSR is a...

That Malthus was guilty of egregious error in his claim to have established the labor-commanded magnitude as an invariable unit of value is well-known. Even his modern biographer could appeal only to a kink or a crotchet, some kind of cerebral block to excuse Malthus's persistent failure to...

The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a status quo). This paper aims to develop a...

This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo ([7]), in the context of general convex economies with heterogeneous agents. It is proved that the Fundamental Marxian Theorem is not preserved in his subjectivist approach,...

This paper compares the models of Arrow and Debreu [1954] and Sraffa [1960], and concludes that (1) the models are informationally distinct conceptions of a capitalist economy, (2) they support radically distinct - though complete and entirely correct - theories of value, (3) the prices in the...