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A Note on Ronald Meek's 'Studies in the Labour Theory of Value'

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  • Hagendorf, Klaus

Abstract

Ronald Meek has (deliberately) ignored a very important discovery of Jevons. When labour is measured in terms of marginal labour values prices are proportional to these values and commodities exchange accordingly. This has been rediscovered by Soviet economists and that has been published in the JEL in the 70ies. Furthermore it is shown that under neoclassical assumptions the vector of marginal labour values is equal to the Sraffian vector of quantities of dated labour.

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File URL: http://mpra.ub.uni-muenchen.de/11759/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11759.

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Date of creation: 18 Sep 2006
Date of revision: 25 Nov 2008
Handle: RePEc:pra:mprapa:11759

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Keywords: labour theory of value; Marxism; value theory; Ronald Meek; Jevons; Soviet economics; marginalism;

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  1. Letiche, J M, 1971. "Soviet Views on Keynes: A Review Article Surveying the Literature," Journal of Economic Literature, American Economic Association, vol. 9(2), pages 442-58, June.
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