Towards a Political Economy of the Hunters and Gatherers: A Study in Historical Materialism
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.
|Date of creation:||May 2009|
|Date of revision:||15 Sep 2009|
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- Samuelson, Paul A, 1971.
"Understanding the Marxian Notion of Exploitation: A Summary of the So-Called Transformation Problem Between Marxian Values and Competitive Prices,"
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- Dobb,Maurice, 1975. "Theories of Value and Distribution since Adam Smith," Cambridge Books, Cambridge University Press, number 9780521099363, September.
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