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      What Does the Labor Theory of Value Do?

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      research-article
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      World Review of Political Economy
      Pluto Journals
      Marx, transformation problem, explanatory power, exploitation
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            Author and article information

            Journal
            10.13169/worlrevipoliecon
            World Review of Political Economy
            WRPE
            Pluto Journals
            2042-8928
            01 December 2021
            : 12
            : 4
            : 452-462
            Author notes
            [* ] Correspondence: Fred Moseley
            Article
            10.13169/worlrevipoliecon.12.4.0452
            35359680-5fa7-4998-8175-6fb571afb4e6
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2021

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History
            Page count
            Pages: 11
            Categories
            Marx’s Labour Theory of Value: Value, Price, and the Transformation Problem

            Political economics
            Marx,exploitation,explanatory power,transformation problem

            References

            1. 2013a. “Reviving the Cambridge Controversy by Combining Marx with Sraffa.” World Review of Political Economy 4 (3): 300–322.

            2. 2013b. “The Shift from Contradiction to Redundancy in the Critique of the Labour Theory of Value.” International Journal of Pluralism and Economics Education 4 (3): 263–273.

            3. 2021. “Content-Plurality and Political-Unity in the Debate on the Transformation Problem.” World Review of Political Economy 12 (1): 86–105.

            4. , and . 1995. Theory of Production: A Long-Period Analysis. London: Cambridge University Press.

            5. (1867) 1977. Capital, vol. 1. New York: Random House.

            6. 2010. “Critique of Aggregate Demand—Aggregate Supply: Mankiw’s Presentation.” Review of Radical Political Economy 42 (3): 308–314.

            7. 2012a. “A Critique of the Marginal Productivity Theory of the Price of Capital.” Real World Economics Review 59: 131–137.

            8. 2012b. “Mankiw’s Attempted Resurrection of Marginal Productivity Theory.” Real World Economics Review 61: 115–124.

            9. 2015a. “The Marginal Productivity Theory of Capital in Intermediate Microeconomics Textbooks: A Critique.” Review of Radical Political Economy 47 (2): 292–308.

            10. 2015b. “Piketty and Marginal Productivity Theory: A Superficial Application of an Incoherent Theory.” International Journal of Political Economy 44 (2): 105–120.

            11. 2016. Money and Totality: Marx’s Logical Method in Capital and the End of the “Transformation Problem.” Leiden and Boston: Brill Publishers.

            12. 2021. “A Marxian Reply to Hahnel: The Relative Explanatory Power of Marx’s Theory and Sraffa’s Theory.” Review of Radical Political Economy 53 (3): 511–524.

            13. Forthcoming. “Criticisms of Sraffian Theory of Money, Fixed Capital, and Turnover Time—A Supplement to: A Marxian Reply to Hahnel: The Relative Explanatory Power of Marx’s Theory and Sraffa’s Theory.” Review of Radical Political Economics: https://mtholyoke.academia.edu/FredMoseley.

            14. 1982. “Notes on Professor Samuelson’s Analysis of the Marxian Transformation Problems.” Southern Economic Journal 49 (1): 1–10.

            15. 1977. Lectures on the Theory of Production. London: Macmillan.

            16. 1970. “The ‘Transformation’ from Marxian ‘Values’ to Competitive ‘Prices’: A Process of Rejection and Replacement.” Proceedings of the National Academy of Sciences 67 (1): 423–425.

            17. 1971. “Understanding the Marxian Notion of Exploitation: A Summary of the So-Called Transformation Problem between Marxian Values and Competitive Prices.” Journal of Economic Literature 9 (2): 341–369.

            18. 1982. “The Normative and Positive Inferiority of Marx’s Values Paradigms.” Southern Economic Journal 49 (1): 11–16.

            19. 1960. The Production of Commodities by Means of Commodities. Cambridge: Cambridge University Press.

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