Value from Nowhere: a response to Dumenil and Levy (second submission)

Alan Freeman

MPRA Paper from University Library of Munich, Germany

Abstract: This paper was submitted to the Review of Radical Political Economics in response to ‘The conservation of value: a rejoinder to Alan Freeman’, by Gérard Duménil and Dominique Lévy (DL), published in Review of Radical Political Economics in 1999. The response was rejected by the Editorial Board. The paper demonstrates that within DL’s framework, either value is created in circulation or is proportional not to the magnitude of labour time that creates the product, but to the physical magnitude or use-value of the product. It shows that within the TSSI framework value is uniquely determined by the magnitude of labour time, and that the contradictions alleged by DL do not exist. This is the second of two rejected responses. The first has been placed in the public domain at the same time as this one.

Keywords: TSSI; value; Marx; corruption (search for similar items in EconPapers)
JEL-codes: B50 B51 Z1 Z12 (search for similar items in EconPapers)
Date: 2004-08-08, Revised 2004-08-08
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