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Teoría del valor en Valenzuela Feijóo: Una representación walrasiana de Marx

Value theory in Valenzuela Feijóo: A Walrasian representation of Marx

Julio Goicoechea

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the conceptual framework upon which José Valenzuela Feijóo unfolds a theory of value. The elementary form of value gives way to pairs of commodities which in spite of being ordinary, each is to function as money. The general economic equilibrium becomes a means to replace the total or expanded value form. The unit of account, after being reduced to a numeraire, is eliminated. Previously, in an isolated approach to Bortkiewicz, values and prices are to become, each, a self-contained system. The non-dogmatic version of Marx which he claims to provide is shown to be rooted in Walrasian precepts. To expose these precepts, he makes use of Marxian terminology. In an apparent antagonism with Walras, he disqualifies him harshly. The considerable resort to algebraic expressions by Valenzuela Feijóo is kept at a strict minimum.

Keywords: Value theory; numeraire; general economic equilibrium; Walras; Marx (search for similar items in EconPapers)
JEL-codes: D50 (search for similar items in EconPapers)
Date: 2019-01-07
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
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