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Value Theory in an Incomplete Capitalist System

Author

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  • Bill Dunn

    (University of Sydney, Sydney, Australia)

Abstract

The centrality of social labor to Marxist epistemology and the need to understand relations between capitalist production, strictly defined, and incompletely marketized forms of work require a relatively broad concept of value. Not simply a theory of price, the utility of the concept of value lies precisely in its ability to mediate between understanding the abstract truths of labor’s centrality to social life and the complex concreteness of the real world economy. The logical necessity and practical utility of the proposed interpretation is illustrated in relation to state and domestic labor.JEL classification: B51, B54, J01

Suggested Citation

  • Bill Dunn, 2011. "Value Theory in an Incomplete Capitalist System," Review of Radical Political Economics, Union for Radical Political Economics, vol. 43(4), pages 488-505, December.
  • Handle: RePEc:sae:reorpe:v:43:y:2011:i:4:p:488-505
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    More about this item

    Keywords

    value; work; labor power; state capitalism; domestic labor;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B54 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Feminist Economics
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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