Classical labour values – properties of economic reproduction

David Zachariah and Paul Cockshott

MPRA Paper from University Library of Munich, Germany

Abstract: We attempt to clarify the meaning of labour value, a concept that originated in classical political economy. Using a modern formalism, we show that labour values are understood as a field property, or equivalently a characteristic accounting property, of economic reproduction. The applicability of the concept is discussed and its relation to productivity, employment, surplus labour and unproductive activities are demonstrated.

Keywords: classical political economy; labour theory of value (search for similar items in EconPapers)
JEL-codes: B0 C67 P16 (search for similar items in EconPapers)
Date: 2018-09-27
New Economics Papers: this item is included in nep-hme and nep-hpe
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https://mpra.ub.uni-muenchen.de/89832/1/MPRA_paper_89832.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/100979/1/MPRA_paper_100979.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/101915/1/MPRA_paper_101915.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/104815/1/MPRA_paper_104815.pdf revised version (application/pdf)

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