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Marx's Economics : A Dual Theory of Value and Growth - Michio Morishima

Marx's Economics

A Dual Theory of Value and Growth

Paperback

Published: 29th May 1978
RRP $58.95
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Professor Morishima concentrates on the three volumes of Das Kapital and their contributions to the major topics of traditional Marxian economics. He provides a rigorous mathematisation of the labour theory of value, the theory of exploitation, the transformation problem, the reproduction scheme, the law of relative surplus population, the falling rate of capital and the turnover of capital. After proving Marxian propositions in a rigorous way, he argues that in order to combine Marx"s model with von Neumann"s in a new growth theory it is necessary to abandon the labour theory of value. Professor Morishima feels that this sacrifice is well worth making, because it enables Marxian economics to be integrated with orthodox theory into a new Marx-von Neumann theory of growth, and this to make an important contribution to the development of the subject.

Preface
Introduction
The Labour Theory of Value
Dual definition of value
Hidden assumptions
Quantitative determination of relative value
Value, use-value and exchange-value
The Theory of Exploitation
Surplus value and exploitation
The rate of profit
The Transformation Problem
The static transformation problem
The aggregation problem
The Reproduction Scheme
Simple reproduction
Extended reproduction
The reserve army and the falling rate of profit
The dynamic transformation problem
Capital and Value
The turnover of capital
The labour theory of value revisited
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521293037
ISBN-10: 0521293030
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 208
Published: 29th May 1978
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 21.59 x 13.97  x 1.22
Weight (kg): 0.27