 Marx in the matrix. L?algebra del "lavoro vivo"HISTORY OF ECONOMIC THOUGHT AND POLICY, 2009, vol. VI, issue 2, 31-48 Abstract: Marx in the matrix. L?algebra del "lavoro vivo" - This paper provides a general overview on the recent interpretations of Marx?s analysis of value, money and income distribution. The paper is organized as follows. Section 1 introduces the original Marxian formulation of labour theory of value, as it is outlined in the first volume of Capital. Section 2 reproposes the ?transformation of values into production prices?, as it is developed in the third volume. Section 3 discusses the still open issues around Marx?s transformation procedure. Sections 4 and 5 provide an outline on the so called ?Single-System Labour Theory of Value? (SS-LTV), autonomously elaborated by Foley and Dum?nil since the first half of 1980s. Such an innovative approach represents a macroeconomic monetary interpretation of Marx?s analysis, founded on the rediscovery of the ?living labour? concept. Finally, section 6 leaves behind the long-run analysis implied in the SS-LTV, in order to consider the effects of a change in the general price level (disregarding wage-earners expectations) on surplus rate. Keywords: Marxian economics; theory of value; transformation problem; value of money. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:fan:spespe:v:html10.3280/spe2009-002002 Ordering information: This journal article can be ordered from Access Statistics for this article HISTORY OF ECONOMIC THOUGHT AND POLICY is currently edited by FrancoAngeli More articles in HISTORY OF ECONOMIC THOUGHT AND POLICY from FrancoAngeli Editore |
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