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

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

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Hagendorf, Klaus

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Klaus Hagendorf

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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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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Find related papers by JEL classification:
B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian

This paper has been announced in the following NEP Reports:

NEP-ALL-2008-12-01 (All new papers)
NEP-HPE-2008-12-01 (History & Philosophy of Economics)
NEP-LAB-2008-12-01 (Labour Economics)
NEP-PKE-2008-12-01 (Post Keynesian Economics)

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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. [Downloadable!] (restricted)

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