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Marx, Devalorisation, and the Theory of Value

Michael Perelman

Cambridge Journal of Economics, 1999, vol. 23, issue 6, 719-28

Abstract: This article investigates the implications of devalorisation of fixed capital in Marx's value theory. It shows why an exact, algebraic value theory is impossible. It also indicates how analysis of devalorisation provides a basis for understanding the nature of crises. Copyright 1999 by Oxford University Press.

Date: 1999
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