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Testing Marx with Input Output Tables

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Author Info

  • W. P. Cockshott

    (University of Glasgow)

  • A. Cottrell

    (Wake Forest University)

  • G. Michaelson

    (Heriot Watt University)

Abstract

The paper describes an attempt to use the British Input Output tables and other computer readable British Economic statistics to test hypotheses about the labour theory of value. Inversion of the I/O matrices is used to obtain estimates of values for commodity groups and the correlations between these and prices are computed. The results show a very high level of correlation between values and prices.

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File URL: http://128.118.178.162/eps/mhet/papers/0406/0406002.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Method and Hist of Econ Thought with number 0406002.

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Length: 19 pages
Date of creation: 07 Jun 2004
Date of revision:
Handle: RePEc:wpa:wuwpmh:0406002

Note: Type of Document - pdf; pages: 19
Contact details of provider:
Web page: http://128.118.178.162

Related research

Keywords: labour theory of value; Marx; Ricardo;

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