MARX AND THE “LAW OF VALUE”. A CRITICAL APPRAISAL ON THE OCCASION OF HIS 200TH BIRTHDAY
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Abstract
ABSTRACT
The paper celebrates Karl Marx’ 200th birthday in terms of a critical discussion of the “law of value” and the idea that “abstract labour”, and not any use value, is the common third of any two commodities that exchange for one another in a given proportion. It is argued that this view is difficult to sustain. It is also the source of the wretched and unnecessary “transformation problem”. Ironically, as Piero Sraffa has shown, prices of production and the general rate of profits are fully determined in terms of the same set of data from which Marx started his analysis.
MARX Y LA “LEY DEL VALOR”. UNA EVALUACIÓN CRÍTICA CON MOTIVO DE SU BICENTENARIO
RESUMEN
En este artículo conmemoro el bicentenario de Karl Marx mediante una discusión crítica de la “ley del valor” y de la idea de que el “trabajo abstracto”, y no ningún valor de uso, es el tercer elemento común de las mercancías que se ntercambian entre sí en una proporción determinada. Argumento que es difícil sostener este punto de vista. Esto también es la fuente del infortunado e innecesario problema de la transformación”. Irónicamente, como lo demostró Piero Sraffa, los precios de producción y la tasa general de ganancia se determinan de forma completa en términos del mismo conjunto de datos a partir del cual Marx inició su análisis.
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