Discrepancies between real costs and prices

Vicenc Melendez-Plumed ()

MPRA Paper from University Library of Munich, Germany

Abstract: We support labour contents as an absolute and reliable measurement unit and as an accounting procedure that expresses the real costs and profits of the economic system. As far as the labour capacity of expressing real social costs and profits is concerned, we highlight the inaccuracy in the basic economic data derived from the deviation of the rate of profit in terms of prices with regard to that which is calculated for labour values and we also demonstrate that the price system far from being independent of these values, is supported by them. Thus, there is no redundancy between price and value systems. These results are obtained in a simple model under the following assumptions: simple – not joint - production is considered where only circulating capital exists. Every good or service considered, is a basic commodity; there is only one quality labour.

Keywords: labour values; sraffian prices; discrepancies; rate of profit (search for similar items in EconPapers)
JEL-codes: B51 (search for similar items in EconPapers)
Date: 2011-09
New Economics Papers: this item is included in nep-hme
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/33635/1/MPRA_paper_33635.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:33635

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().