Additive Labour Values and Prices: Evidence from the Supply and Use Tables of the French, German and Greek Economies
AbstractThis paper finds, on the basis of a usual 'square' linear model of joint production, that the vectors of additive labour values and/or actual prices of production associated with the Supply and Use Tables of the Greek economy (for the years 1995 and 1999) are economically insignificant, whilst the relevant vectors of the French (for the years 1995 and 2005) and German (for the years 2000 and 2005) economies are economically significant. The evaluation of the results reveals certain technical-social features of the economies under consideration and casts doubt on the logic of the so-called empirical labour theory of value.
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Bibliographic InfoArticle provided by Economic Issues in its journal Economic Issues.
Volume (Year): 15 (2010)
Issue (Month): 2 (September)
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