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Towards a Political Economy of the Hunters and Gatherers: A Study in Historical Materialism

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  • Hagendorf, Klaus

Abstract

This paper uses the mode of production of the hunter-gatherers as a background to explain basic economic concepts, in particular the meaning of the labour theory of value and it's relationship to optimization of resources. A proof of the marginal value theorem is presented. A new term is introduced to designate labour surplus value, roundabout labour. The analytical expression for socially necessary labour is derived and Adam Smith's paradox between labour value and the adding-up theorem of wages, rent and profit, is resolved. It is shown that far from being limited to the ancient form of society of the hunter-gatherers the labour theory of value holds also in modern times.

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File URL: http://mpra.ub.uni-muenchen.de/17339/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17339.

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Date of creation: May 2009
Date of revision: 15 Sep 2009
Handle: RePEc:pra:mprapa:17339

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Keywords: historical materialism; labour theory of value; Marxian economics; roundabout labour; Adam Smith; surplus labour; hunter-gatherer society; marginal value theorem; evolutionary ecology; modes of production; productive forces;

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  1. Samuelson, Paul A, 1971. "Understanding the Marxian Notion of Exploitation: A Summary of the So-Called Transformation Problem Between Marxian Values and Competitive Prices," Journal of Economic Literature, American Economic Association, vol. 9(2), pages 399-431, June.
  2. Dobb,Maurice, 1975. "Theories of Value and Distribution since Adam Smith," Cambridge Books, Cambridge University Press, number 9780521099363, April.
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