A Note on Ronald Meek's 'Studies in the Labour Theory of Value'
Klaus Hagendorf ()
MPRA Paper from University Library of Munich, Germany
Ronald Meek has (deliberately) ignored a very important discovery of Jevons. When labour is measured in terms of marginal labour values prices are proportional to these values and commodities exchange accordingly. This has been rediscovered by Soviet economists and that has been published in the JEL in the 70ies. Furthermore it is shown that under neoclassical assumptions the vector of marginal labour values is equal to the Sraffian vector of quantities of dated labour.
Keywords: labour theory of value; Marxism; value theory; Ronald Meek; Jevons; Soviet economics; marginalism (search for similar items in EconPapers)
JEL-codes: B10 B14 B24 B51 D24 D46 (search for similar items in EconPapers)
Date: 2006-09-18, Revised 2008-11-25
New Economics Papers: this item is included in nep-hpe, nep-lab and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:11759
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