As várias dimensões da lei do valor [The various dimensions of the law of value]

João Machado Borges Neto ()
Additional contact information
João Machado Borges Neto: PUC-SP

Nova Economia, 2004, vol. 14, issue 3, pages 143-158

Abstract: This article intends to demonstrate that the law of value can be understood based on three successive versions, through which it becomes progressively more complex. The least complex law is the law of value determined by years worked. The second version is the law of social work distribution (which may also be interpreted as the law of equilibrium in the distribution of social work). Examination of the impact of intrasectorial competition among capitals in the capitalist economy leads to the third version of the law of value, the law of minimization of abstract work time. In this manner, the law of value is a dynamic law which forms the basis for general laws of capitalist economy development. Finally, in the international scene, the law of value is presented as the law of high-profit generation and of the widening of inequality.

Keywords: value; competition; years worked; inequalities; Marx (search for similar items in EconPapers)
JEL-codes: B10 B51 (search for similar items in EconPapers)
Date: 2004

Downloads: (external link)
http://www.face.ufmg.br/novaeconomia/sumarios/v14n3/140305.pdf (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: http://EconPapers.repec.org/RePEc:nov:artigo:v:14:y:2004:i:3:p:143-158

Ordering information: This journal article can be ordered from
Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil
http://www.face.ufmg.br/novaeconomia/

Access Statistics for this article

Nova Economia is edited by Hugo E. A. da Gama Cerqueira

More articles in Nova Economia from Economics Department, Universidade Federal de Minas Gerais (Brazil)
Address: Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil
Contact information at EDIRC.
Series data maintained by Hugo Cerqueira ().