Arbeitswerte und die Theorie der Unternehmung. Teil I: Die Unternehmung unter vollständiger Konkurrenz

Labour Values and the Theory of the Firm. Part I: The Competitive Firm

Klaus Hagendorf

MPRA Paper from University Library of Munich, Germany

Abstract: This paper is the first part of a Marxian critique of the theory of the firm focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter, marginal analysis is introduced culminating in the derivation of the Labour Value Function as the supply curve of the competitive firm in terms of labour values. The analysis is based on a new definition of labour value which is Marxian in spirit and respects modern mathematical optimization methods not found in Marx and offers a further development and coherent interpretation of Marx's value theory. The analysis is limited to the case of the competitive firm.

Keywords: Marxian economics; labour theory of value; value theory; marginal analysis; microeconomics; theory of the firm; marginal cost; labour value function; supply function; Adam Smith (search for similar items in EconPapers)
JEL-codes: A13 B14 B24 B51 D21 D41 D46 (search for similar items in EconPapers)
Date: 2009-11-09
New Economics Papers: this item is included in nep-ger and nep-hpe
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https://mpra.ub.uni-muenchen.de/19457/2/MPRA_paper_19457.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:18501

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