It is frequently believed, in a quite schizophrenic fashion, that a theory of value must just solve the question of "relative prices" (a microeconomic problem), being mainly the theory of money the piece needed for determining the absolute or monetary level of prices (a macroeconomic problem)....

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...

This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input-output tables of the years 2002, 2007, 2012 and the most recently published input-output table of the year 2019. We observe some...

This paper focuses on cybersecurity knowledge, claiming that this knowledge may have a value of its own, and suggests a market mechanism to foster the creation of this kind of value. The goal is to elaborate the value of cybersecurity knowledge and propose a semantic approach with an example...

This paper explores the value concept to understand the notions of value and price that form the base of value theories. Since value is more appreciate than utility in explaining value creation and value distribution in the today’s society and economy, the theory of value is amended to conduct...

This research is aimed to test the hypothesis that the real effective exchange rate between Spain's manufacturing sectors and its European Union partners has been governed by the relative vertically integrated unit labor costs and the intrasectoral differences of the profit rate during...

The structure of the paper brings together three major sections, following the general approach to the impact of paradoxes in economic theory. The first section describes a necessary investigation in the synthesized universe of paradoxes, to capitalize on Quine’s paradox taxonomy, and to...

The old theories of imperialism attempted to explain the phenomenon of the militarization of the industrial nations and their conflict over colonies that led to World War I. It was the rise of monopoly capitalism, the emergence of finance capital and the control over the state that led...

We model the interaction between capitalists and entrepreneurs as a dynamic game. The open-loop Nash equilibrium and the closed-loop Nash equilibrium are distinguished. The purpose is to answer some questions that have arisen in the development of profit-led versus wage-led growth models. We...