Marx, Keynes and Schumpeter
A New Labor Theory of Value for Rational Planning Through Use of theBourgeois Profit Rate
To maximize steady-state per capita consumptions, goods should be valued at their "synchronized labor requirement costs", which are shown to deviate from Marx's schemata of "values" but to coincide with bour- geois prices calculated at dated labor requirements, marked-up by compound interest, at a profit or interest rate equal to the system's rate of exponential growth. With capitalists saving all their incomes for future profits, workers get all there is to get. Departures from such an exogenous, orendogenous, golden-rule state are the rulein history rather than the exception. In the case of ex- ponential labor-augmenting change, it is shown thatcom - petitive prices will equal historically embodied labor content.
Understanding the marxian notion of exploitation : a summary of the so-called transformation problem between marxian values and the competitive prices
Journal of Economic Literature, vol. 9, no 2, p. 399-431.
Marxian economics as economics
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Economics Theory and Mathematics - an appraisal