 As várias dimensões da lei do valor [The various dimensions of the law of value]João Machado Borges Neto ()
Nova Economia, 2004, vol. 14, issue 3, 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) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:nov:artigo:v:14:y:2004:i:3:p:143-158 Ordering information: This journal article can be ordered from Access Statistics for this article Nova Economia is currently edited by Gustavo de Britto Rocha More articles in Nova Economia from Economics Department, Universidade Federal de Minas Gerais (Brazil) Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil. Contact information at EDIRC. |
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