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Topic: Labour theory of value


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In the News (Tue 20 Nov 18)

  
  Highbeam Encyclopedia - Search Results for Labour theory of value
value A word with several quite different meanings: in statistical analysis of quantitative data-sets, the value is the score or figure observed on a particular variable for a particular case, or in specific circumstances, that is, it is a quantified amount.
of the cornerstones of the labour theory of value.
The labor theory of value and the strategic role of alienation.
www.encyclopedia.com /SearchResults.aspx?Q=Labour+theory+of+value   (1314 words)

  
  Labor theory of value - Wikipedia, the free encyclopedia
The labor theory of value (LTV) is a theory in economics and political economy concerning a market-oriented or commodity-producing society: the theory equates the "value" of an exchangeable good or service (i.e., a commodity) with the amount of labor required to produce it.
In this view, the LTV, as used in Capital, is a method for understanding the nature of social relationships for capitalism as a whole: the examples of workers producing value that Marx presents in volume I are microcosms representing the totality of society instead of being microeconomic analyses.
Values correspond to the abstract labor-time socially necessary to produce commodities (the contributions by workers to commodity-producing society), while prices are set by supply, demand, and market institutions.
en.wikipedia.org /wiki/Labour_theory_of_value   (4136 words)

  
 Introduction to Marxian Economics 1: The Labour Theory of Value – World Socialist Movement
The value of a commodity, said Marx, is determined by the amount of socially necessary labour contained in it or, what is the same thing, by the amount of socially necessary labour-time spent in producing it from start to finish.
Note that the Labour Theory of Value does not say that the value of a commodity is determined by the actual amount of labour contained in it.
Marx called the ratio of surplus labour to necessary labour (which is the same as the ratio of surplus value to variable capital) the rate of surplus value, or rate of exploitation (s/v).
www.worldsocialism.org /articles/introduction_to_marxian_economics1.php   (2756 words)

  
 Soc. 250 - Marx's Value Theory   (Site not responding. Last check: 2007-10-10)
Ricardo's labour theory of value began to be used by trade unionists and early socialists, the so-called "Ricardian socialists," such as Francis Bray and Thomas Hodgskin.
Thus the value of a commodity is the amount of homogeneous human labour or socially necessary labour embodied in the commodity.
The labour value that is embodied in the commodity is simple, average, human labour, or unskilled labour of average intensity.
leroy.cc.uregina.ca /~gingrich/318s2502.htm   (5191 words)

  
 Marx & Value
Labour could not be an invariant standard of value when some industries used lots of labour and little capital while others used lots of capital and little labour, since a change in the distribution of income between wages and profits would alter costs in different industries by different amounts.
The value of labour is itself the amount of labour it takes to produce the food and other necessities consumed by the worker and the worker's family.
It is to some extent true that labourers are produced as commodities for profit (supply of their training, recreation, and so on may be influenced by commercial considerations), but not true enough to make the labour theory of value realistic as an account of wages.
www3.sympatico.ca /saburns/pg0950.htm   (15547 words)

  
 Theory of Value: A study of Pre-Classical, Classical and
The debate on the theory of value, which was initiated in Ancient Greece and which became dormant during the Middle Ages, later re-emerged at the close of the seventeenth century to dominate economic thought for the next 200 years.
The search concerning value was continued in the direction of utility by early mercantilists during the 16th and the first half of the 17th century.
Unfortunately, for the development of value theory, this dualistic analysis was suppressed for almost 200 years, until its resurrection at the close of the 19th century.
www.tcd.ie /Economics/SER/archive/1996/MFOGARTY.HTM   (3009 words)

  
 An introduction to Marx's Labour Theory of Value
Having dealt with how the allocation of social labour time takes the form of value in an exchange economy it is time to look at the central mystery of the market, the ratio of exchange, or in Marxist terms the substance and magnitude of value.
Not only the category, labour, but labour in reality has here become the means of creating wealth in general, and has ceased to be organically linked with particular individuals in any specific form.
Marx's value theory is often presented as a simple costs of production theory, where we add up labour value-added in the various stages of production to come up with a final value.
www.marxist.com /Economy/theory_of_value_1.html   (5534 words)

  
 New Labour Theory of Value
Before we turn to the labour theory of value, it is essential that we solve the most important problem that has, up to now, been passed over by all labour-value theoreticians, viz.
Theoretically, a success of the creative factor of labour thus continues forever in human society; unless, through an almost unimaginable catastrophe, the records, memories and other forms of access to the cognizance of this success are taken from humanity.
Labour and time together first create labour quantities, that is actualised labour; if one allows time to pass without work, then no results will be achieved, which alone are storeable.
www.angelfire.com /ga/chaok/index4.html   (2786 words)

  
 The Scientific Status of the Labour Theory of Value
In this paper we wish to argue that the labour theory of value is a scientific theory in the strongest sense of the empirical sciences.
and the n-vector of aggregate values of the sectoral outputs is
We are interested in the relationship between (1), the aggregate sectoral values that could be obtained in principle from the data in natura, and (5), the corresponding figures obtained by using the monetary data.
www.wfu.edu /~cottrell/wpc_ac/wpc_ac.html   (5394 words)

  
 Economic Manuscripts: Theories of Surplus-Value, Addenda to Part 1
secondly, that the value of land is nothing but the rent purchased in advance for a certain number of years—a transmuted form of rent itself, in which for example twenty-one years surplus-value (or labour) appears as the value of the land; in a word, the value of land is nothing but capitalised rent.
Productive labour is therefore—in the system of capitalist production—labour which produces surplus-value for its employer, or which transforms the objective conditions of labour into capital and their owner into a capitalist: that is to say, labour which produces its own product as capital.
Productive labour is therefore labour which reproduces for the labourer only the previously determined value of his labour-power, but as an activity creating value increases the value of capital; in other words, which confronts the labourer himself with the values it has created in the form of capital.
www.marxists.org /archive/marx/works/1863/theories-surplus-value/add1.htm   (6627 words)

  
 Labor Theory of Value
The core of Marx's alleged critique--especially Capital I--assumes the validity of the labor theory of value and deduces the extraction of surplus value and exploitation accordingly.
The theory of surplus value as Marx presented it simply stands or falls with the (2) labor theory of value, and to the degree that one embraces (2), the theory of surplus value and exploitation as presented by Marx necessarily follows--logically, that is.
The labour theory of value wasn't Marx invention - it was Adam Smith's theory.
www.csudh.edu /dearhabermas/marx07.htm   (813 words)

  
 HES: QUERY -- Origin of "labour theory of value"
He spoke variously of the 'law of value' or simply the theory of value.
I think the difference is rather important when it is studied carefully, since the law of value distinguishes Marx from the classicals in being a law of motion, that is, a non-equilibrium formulation of value, a formulation which does not pre-suppose the equality of demand and supply.
I suspect it is widely disseminated in Eastern countries and in many semi-official writings about Marx because it was part of the official teaching, and this begins I think because Lenin characterised Marx's theory as the 'labour theory of value' in 'Three Sources and component parts of Marxism'.
www.eh.net /pipermail/hes/1999-February/001312.html   (465 words)

  
 Economic Manuscripts: Theories of Surplus-Value, Chapter 21
Rent, money interest, industrial profit, are thus merely different forms of “interest of capital”;, which again is reduced to the “surplus labour of the labourer”.  This surplus labour takes the form of surplus produce.  The capitalist is the owner of the surplus labour or of the surplus produce.  The surplus produce is capital.
[b] capital go on accumulating […] the labour to be given for the use of capital must go on increasing, interest paid for capital continuing the same, till all the labour of all the labourers of the society is engrossed by the capitalist.  […;] that it is
Here, accumulation of capital cannot mean increase in the amount of means of subsistence, raw materials and instruments of labour as a condition for the division of labour, for insofar as the accumulation of capital is taken to mean this, it is a consequence of the division of labour, not its pre-condition.
www.marxists.org /archive/marx/works/1863/theories-surplus-value/ch21.htm   (3931 words)

  
 WSWS Editorial Board member Nick Beams replies to a reader's question on the labour theory of value
Consequently he resorted to an adding up theory of value: the value of a commodity is determined by the value of its components—labour, capital, land.
Of course such a theory explains nothing for it says that the value of a commodity is determined by the value of other commodities—leaving open the question of value itself.
He showed that the new value added by labour in the production process was distributed between the capitalists and labourers in the form of wages and profit, and that the value of the commodity remained the same no matter what the proportion of these two parts.
www.wsws.org /articles/2000/apr2000/corr-a29.shtml   (1943 words)

  
 LE REVUE GAUCHE - Libertarian Communist Analysis And Comment : It's the Labour Theory of Value, stupid
In apprehending and expounding this theory he is ever influenced by his own individualistic mentality, and he thus arrives at contradictions which he ascribes to the theory, while they are in truth ascribable solely to his interpretations of the theory.
Years ago Hilferding pointed out that the theory of historical materialism and the labor theory of value have the same starting point, specifically labor as the basic element of human society, an element whose development ultimately determines the entire development of society.
This theory analyzes the production relations of capitalist society, the process of their change as caused by changes of productive forces, and the growth of contradictions which are generally expressed in crises.
plawiuk.blogspot.com /2005/03/its-labour-theory-of-value-stupid_14.html   (4041 words)

  
 babble: Labour Theory of Value II
People can be reduced to the word, "labour", and the environment in general is now simply, "land." A new set of rules would be needed in order to strip away common rights of the people in order for this new economy based on a single human behaviour to work for its masters.
Certain laws had to then be declared and enforced in to bring labour back to their senses, because what good was all this new private property absconded from king and country without workers to work the land?.
The essence of the value of diamonds and water, are instrumental in how we see this valuation process created, to supply a vast corporate take over of the controls that citizens own.
www.rabble.ca /babble/ultimatebb.php?ubb=get_topic&f=21&t=001178   (3677 words)

  
 babble: The Labour Theory of Value and exploitation
There can be two general results from a theory: 1) the person reading the abstract be formulate a prediction from it, and 2) the theory's description may lead the reader to investigate the actual rates in the industry, and why they may differ from one sample to another.
While bidding for jobs does not usually accure as a precondition for a job in a labour position (as far as we may know per se), we may infer for that fact that if there were wage bidding to offer to work for a lower wage, the lower wage may win the labour position.
It is a point of view: from the bourgeois point of view, it has negative value because it alerts all to the fact of the appalling indifference of competitve markets, and, from the proletariats view, they have new awareness for their unhappy consciousness.
www.rabble.ca /babble/ultimatebb.php?ubb=get_topic&f=21&t=001172   (6361 words)

  
 Labour-power and the Value-form
Following this, the naive labour theory of value is given a closer examination
labour purchasable with the wages of a unit of labour-power, is equal to the
It is, in a sense, a prediction of the labour-theory of value that
www.users.dircon.co.uk /~pscumnud/LPVF.html   (4700 words)

  
 labour theory of value
In classical economics, the theory that the price (value) of a product directly reflects the amount of labour it involves.
According to the theory, if the price of a product falls, either the share of labour in that product has declined or that expended in the production of other goods has risen.
Karl Marx adopted and developed the theory but it was not supported by all classical economists.
www.tiscali.co.uk /reference/encyclopaedia/hutchinson/m0021784.html   (151 words)

  
 AllRefer.com - labour theory of value Information
In classical economics, the theory that the price (value) of a product directly reflects the amount of labour it involves.
According to the theory, if the price of a product falls, either the share of labour in that product has declined or that expended in the production of other goods has risen.
Karl Marx adopted and developed the theory but it was not supported by all classical economists.
www.allrefer.com /labour-theory-of-value   (145 words)

  
 Ceteris Paribus: Talking Shop
Basically this theory states that the value of a commodity is equal to the amount of labour put into it.
This is by no means the entire theory, understanding that would require you to read the reams of literature that Marx, Ricardo and other commie Economists spewed forth on it.
Basically Meyer says that if a group of labourers are offered as much money as they need, and an unlimited amount of crude raw materials such as silicon, steel, land, etc, they still can't build you a computer.
azatlan.blogspot.com /2005/03/talking-shop.html   (644 words)

  
 Economic Manuscripts: Theories of Surplus-Value by Karl Marx 1863
Preface by the Institute of Marxism-leninism, C.C. Contents of the Manuscript Theories of Surplus-Value.
(b)  Ricardo’s Confusion of Cost-Prices with Value and the Contradictions in His Theory of Value Arising Therefrom.  His Lack of Understanding of the Process of Equalisation of the Rate of Profit and of the Transformation of Va1ues into Cost-Prices
5.  Smith’s Thesis of the Invariable Value of Labour as Interpreted by Malthus
www.marxists.org /archive/marx/works/1863/theories-surplus-value   (4930 words)

  
 Table of contents for The labour theory of value   (Site not responding. Last check: 2007-10-10)
Table of contents for The labour theory of value
Table of contents for The labour theory of value / Peter C. Dooley.
John Locke: The classical perspective 3.1 His life in brief 3.2 From the state of nature to civil society 3.3 The origin of value: Land and labour 3.4 Measures of value: Money and corn 3.5 The regulation of value: Supply and demand 3.6 Rent and taxes 3.7 Money, interest and trade 3.8 Conclusion Chapter 4.
www.loc.gov /catdir/toc/ecip053/2004025763.html   (151 words)

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