Marx's Economics "A Dual Theory of Value and Growth"

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Morishima, Michio

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ISBN:9780521293037
Editorial: Cambridge University Press
Fecha de la edición:1978
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Nº Pág.:208
Idiomas:Ingles

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/ Historia del Pensamiento Económico

Professor Morishima concentrates on the three volumes of Das Kapital and their contributions to the major topics of traditional Marxian economics. He provides a rigorous mathematisation of the labour theory of value, the theory of exploitation, the transformation problem, the reproduction scheme, the law of relative surplus population, the falling rate of capital and the turnover of capital. After proving Marxian propositions in a rigorous way, he argues that in order to combine Marx's model with von Neumann's in a new growth theory it is necessary to abandon the labour theory of value. Professor Morishima feels that this sacrifice is well worth making, because it enables Marxian economics to be integrated with orthodox theory into a new Marx-von Neumann theory of growth, and this to make an important contribution to the development of the subject.

Preface; Introduction; Part I. The Labour Theory of Value: 1. Dual definition of value; 2. Hidden assumptions; 3. Quantitative determination of relative value; 4. Value, use-value and exchange-value; Part II. The Theory of Exploitation: 5. Surplus value and exploitation; 6. The rate of profit; Part III. The Transformation Problem: 7. The static transformation problem; 8. The aggregation problem; Part IV. The Reproduction Scheme: 9. Simple reproduction; 10. Extended reproduction; 11. The reserve army and the falling rate of profit; 12. The dynamic transformation problem; Part V. Capital and Value: 13. The turnover of capital; 14. The labour theory of value revisited; Index.