IDEAS home Printed from https://ideas.repec.org/a/nov/artigo/v14y2004i3p143-158.html
   My bibliography  Save this article

As várias dimensões da lei do valor [The various dimensions of the law of value]

Author

Listed:
  • João Machado Borges Neto

    () (PUC-SP)

Abstract

This article intends to demonstrate that the law of value can be understood based on three successive versions, through which it becomes progressively more complex. The least complex law is the law of value determined by years worked. The second version is the law of social work distribution (which may also be interpreted as the law of equilibrium in the distribution of social work). Examination of the impact of intrasectorial competition among capitals in the capitalist economy leads to the third version of the law of value, the law of minimization of abstract work time. In this manner, the law of value is a dynamic law which forms the basis for general laws of capitalist economy development. Finally, in the international scene, the law of value is presented as the law of high-profit generation and of the widening of inequality.

Suggested Citation

  • João Machado Borges Neto, 2004. "As várias dimensões da lei do valor [The various dimensions of the law of value]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 14(3), pages 143-158, September.
  • Handle: RePEc:nov:artigo:v:14:y:2004:i:3:p:143-158
    as

    Download full text from publisher

    File URL: http://www.face.ufmg.br/novaeconomia/sumarios/v14n3/140305.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Isard,Peter, 1995. "Exchange Rate Economics," Cambridge Books, Cambridge University Press, number 9780521466004, December.
    2. Thirlwall, Anthony P & Hussain, Mohammed Nureldin, 1982. "The Balance of Payments Constraint, Capital Flows and Growth Rate Differences between Developing Countries," Oxford Economic Papers, Oxford University Press, vol. 34(3), pages 498-510, November.
    3. Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
    4. Nelson H. Barbosa Filho, 2001. "International Liquidity and Growth in Brazil," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2001-04, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    5. Isard,Peter, 1995. "Exchange Rate Economics," Cambridge Books, Cambridge University Press, number 9780521460477, December.
    6. Juan Carlos Moreno-Brid, 1999. "On Capital Flows and the Balance-of-Payments-Constrained Growth Model," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 21(2), pages 283-298, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    value; competition; years worked; inequalities; Marx;

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nov:artigo:v:14:y:2004:i:3:p:143-158. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bárbara Freitas Paglioto). General contact details of provider: http://edirc.repec.org/data/fufmgbr.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.