A Critical Marxist Simple Approach to Capital Theory

Duccio Cavalieri

MPRA Paper from University Library of Munich, Germany

Abstract: This essay provides a simple, non-technical reformulation of Marx’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value and of the ‘new value’ equality between the net product of the economy and the living labour employed in production of gross output, and a development of the different theoretical perspective outlined by the mature Marx. A correct method for converting quantities of labour-time in terms of money, which accounts for both explicit and implicit costs, is proposed.

Keywords: value forms; labour; capital; money; capital theory; critical Marxism; MEV; MELT. (search for similar items in EconPapers)
JEL-codes: B12 B14 B51 D46 E11 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:58213

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