Time, the value of money and the quantification of value
AbstractThis paper establishes, and illustrates for the case of the UK, a temporal method for calculating the labour values of outputs from any process or sector of a market economy. It exhibits the temporal calculation of the Monetary Equivalent of Labour Time (MELT), the general ratio between monetary and labour time magnitudes, for a single national economy, but does not correct for the consequences of value transfers within the world economy as a whole. The method is nevertheless generalisable, provided international value transfers are properly accounted.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 2217.
Date of creation: 12 Sep 1998
Date of revision:
Liquidity; Value; Quantification; MELT; MEL; Money; Labour; Marx; TSSI; Temporalism;
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- Freeman, Alan, 2003. "The Age of War: From World Market to World Conquest (English language version)," MPRA Paper 5588, University Library of Munich, Germany.
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