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Connecting labour values and relative prices


  • Melendez-Plumed, Vicenc


A rate of profit, expressed in labour magnitudes, that allows matching total plus value with total profits is determined. The relative prices, expressed in wage units, associated with this rate ensure that total profits are equal to the difference between the sum of relative prices and the sum of labour values as well.

Suggested Citation

  • Melendez-Plumed, Vicenc, 2009. "Connecting labour values and relative prices," MPRA Paper 18017, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:18017

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    References listed on IDEAS

    1. George C. Bitros & Anastassios D. Karayiannis, 2004. "The liberating power of entrepreneurship in ancient Athens," Method and Hist of Econ Thought 0411004, EconWPA.
    2. Bitros, George C. & Karayiannis, Anastassios D., 2008. "Values and institutions as determinants of entrepreneurship in ancient Athens," Journal of Institutional Economics, Cambridge University Press, vol. 4(02), pages 205-230, August.
    3. Pranab Bardhan, 1997. "Corruption and Development: A Review of Issues," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1320-1346, September.
    4. Fleck, Robert K & Hanssen, F Andrew, 2006. "The Origins of Democracy: A Model with Application to Ancient Greece," Journal of Law and Economics, University of Chicago Press, vol. 49(1), pages 115-146, April.
    5. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66, pages 281-281.
    6. Bitros, George C. & Karayiannis, Anastassios D., 2010. "Morality, institutions and the wealth of nations: Some lessons from ancient Greece," European Journal of Political Economy, Elsevier, vol. 26(1), pages 68-81, March.
    7. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 681-712.
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    More about this item


    Labour values; relative prices; rate of profit; plus value;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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