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A Note on Ronald Meek's 'Studies in the Labour Theory of Value'

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  • Hagendorf, Klaus

Abstract

Ronald Meek has (deliberately) ignored a very important discovery of Jevons. When labour is measured in terms of marginal labour values prices are proportional to these values and commodities exchange accordingly. This has been rediscovered by Soviet economists and that has been published in the JEL in the 70ies. Furthermore it is shown that under neoclassical assumptions the vector of marginal labour values is equal to the Sraffian vector of quantities of dated labour.

Suggested Citation

  • Hagendorf, Klaus, 2006. "A Note on Ronald Meek's 'Studies in the Labour Theory of Value'," MPRA Paper 11759, University Library of Munich, Germany, revised 25 Nov 2008.
    • Handle: RePEc:pra:mprapa:11759
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    File URL: https://mpra.ub.uni-muenchen.de/11759/1/MPRA_paper_11759.pdf
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    References listed on IDEAS

    as
    1. Letiche, J M, 1971. "Soviet Views on Keynes: A Review Article Surveying the Literature," Journal of Economic Literature, American Economic Association, vol. 9(2), pages 442-458, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    labour theory of value; Marxism; value theory; Ronald Meek; Jevons; Soviet economics; marginalism;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian

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