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On Value and Price

Author

Listed:
  • H. Gürak

    (Sakarya University)

Abstract

Modern economic science has become a grand parable, the study of a virtual economic world where the interactive robots engage in mechanical relationships. Although the natural sciences that initially inspired many economists has undergone drastic changes since Newton's era, 'modern' economic science has grown up to become a castle of rigid conservatism. Theory of price, the backbone of all theories, is a typical example. This study is an alternative value-price theory, a labor embodied approach. The key concept of analysis is mental labor, the source of all value-added and accumulated, given natural resources and physical labor.

Suggested Citation

  • H. Gürak, 2004. "On Value and Price," General Economics and Teaching 0404001, EconWPA.
  • Handle: RePEc:wpa:wuwpgt:0404001
    Note: Type of Document - doc; pages: 37
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    More about this item

    Keywords

    Value-Price-Exchange-Laor-Labor power-Technology;

    JEL classification:

    • A - General Economics and Teaching

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