Towards a Political Economy of the Hunters and Gatherers: A Study in Historical Materialism

Klaus Hagendorf

MPRA Paper from University Library of Munich, Germany

Abstract: This paper uses the mode of production of the hunter-gatherers as a background to explain basic economic concepts, in particular the meaning of the labour theory of value and it's relationship to optimization of resources. A proof of the marginal value theorem is presented. A new term is introduced to designate labour surplus value, roundabout labour. The analytical expression for socially necessary labour is derived and Adam Smith's paradox between labour value and the adding-up theorem of wages, rent and profit, is resolved. It is shown that far from being limited to the ancient form of society of the hunter-gatherers the labour theory of value holds also in modern times.

Keywords: historical materialism; labour theory of value; Marxian economics; roundabout labour; Adam Smith; surplus labour; hunter-gatherer society; marginal value theorem; evolutionary ecology; modes of production; productive forces (search for similar items in EconPapers)
JEL-codes: B14 B51 D20 D24 D46 Q57 Z10 (search for similar items in EconPapers)
Date: 2009-05, Revised 2009-09-15
New Economics Papers: this item is included in nep-his and nep-hpe
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