Review of Radical Political Economics

, volume 32 , issue 1 , pages 1-39

Recent Developments in the Labor Theory of Value

DUNCAN K. FOLEY ¹

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Department of Economics, Barnard College, Columbia University, New York, NY 10027; |

Publication type: Journal Article

Publication date: 2000-03-01

SAGE

Review of Radical Political Economics

scimago Q1

wos Q3

SJR: 0.437

CiteScore: 1.9

Impact factor: 1.1

ISSN: 04866134, 15528502

DOI: 10.1177/048661340003200101

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Economics and Econometrics

Philosophy

Abstract

This paper reviews the historical roots of Marx's labor theory of value and some contemporary contributions to the critique of this theory. Modern commentary on Marx's labor theory of value based on dual system of parallel prices and embodied labor coefficients loses sight of the theory's roots in the philosophy of historical materialism and its function as a theory of money. Recently developed empirical single system approaches, including the New Interpretation that identifies the monetary expression of labor time with the ratio of money value added to living productive labor expended in its production, address these problems, and open the possibility of a progressive research program based on Marx's theory.

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GOST |

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GOST Copy

FOLEY D. K. Recent Developments in the Labor Theory of Value // Review of Radical Political Economics. 2000. Vol. 32. No. 1. pp. 1-39.

GOST all authors (up to 50) Copy

FOLEY D. K. Recent Developments in the Labor Theory of Value // Review of Radical Political Economics. 2000. Vol. 32. No. 1. pp. 1-39.

RIS |

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RIS Copy

TY - JOUR

DO - 10.1177/048661340003200101

UR - https://doi.org/10.1177/048661340003200101

TI - Recent Developments in the Labor Theory of Value

T2 - Review of Radical Political Economics

AU - FOLEY, DUNCAN K.

PY - 2000

DA - 2000/03/01

PB - SAGE

SP - 1-39

IS - 1

VL - 32

SN - 0486-6134

SN - 1552-8502

ER -

BibTex |

Cite this

BibTex (up to 50 authors) Copy

@article{2000_FOLEY,

author = {DUNCAN K. FOLEY},

title = {Recent Developments in the Labor Theory of Value},

journal = {Review of Radical Political Economics},

year = {2000},

volume = {32},

publisher = {SAGE},

month = {mar},

url = {https://doi.org/10.1177/048661340003200101},

number = {1},

pages = {1--39},

doi = {10.1177/048661340003200101}

}

MLA

Cite this

MLA Copy

FOLEY, DUNCAN K.. “Recent Developments in the Labor Theory of Value.” Review of Radical Political Economics, vol. 32, no. 1, Mar. 2000, pp. 1-39. https://doi.org/10.1177/048661340003200101.

Publisher

SAGE

Journal

Review of Radical Political Economics

scimago Q1

wos Q3

SJR

0.437

CiteScore

1.9

Impact factor

1.1

ISSN

04866134 (Print)

15528502 (Electronic)