Technological Innovation, International Production Prices and Exchange Rates

G Carchedi

Cambridge Journal of Economics, 1991, vol. 15, issue 1, 45-60

Abstract: Usually, Marxist attempts to theorize international production prices share two drawbacks: they rest on the obsolete assumption of international capital and labor immobility, and ignore the need to develop a theory of exchange rates. The approach submitted here extends Karl Marx's transformation procedure of individual into social values to the international economy. This requires that the hypothesis of international capital immobility be dropped and that a Marxist theory of exchange rates developed. Both the international redistribution of value and long-term movements in exchange rates are made to depend upon technological innovation and competition. Copyright 1991 by Oxford University Press.

Date: 1991
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:oup:cambje:v:15:y:1991:i:1:p:45-60

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().