price, the backbone of all theories, is a typical example. This study is an alternative value-price theory, a labor embodied … approach. The key concept of analysis is mental labor, the source of all value-added and accumulated, given natural resources … and physical labor. …

price, the backbone of all theories, is a typical example. This study is an alternative value-price theory, a labor embodied … approach. The key concept of analysis is mental labor, the source of all value-added and accumulated, given natural resources … and physical labor. …

The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this … indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …

The material approaches the complex relation between cost, value and price in case of real estate properties, analyzed …

explaining the specific price of an individual exchange. An exchange micro-condition must be found that, when averaged, will give … and measurable objective basis of exchange. The power theory of exchange provides the objective price-equation. It is …Modern exchange theories model a large market, but do not explain single exchanges. This paper considers the phenomenon …

explaining the specific price of an individual exchange. An exchange micro-condition must be found that, when averaged, will give … and measurable objective basis of exchange. The power theory of exchange provides the objective price-equation. It is …Modern exchange theories model a large market, but do not explain single exchanges. This paper considers the phenomenon …

It is clear by now that pure exchange models are useless. For two reasons. First, because exchange is the other side of … specialization in production, and, second, because a direct exchange of goods does not take place in the monetary economy. The … decisive drawback of conventional exchange models, though, is that they cannot explain profit. Standard economics rests on …