Exploration of the Labor Theory of Value

Author: Yan Zhijie
Publisher:
Publish Date: 2001-04-01
Features: This book contains approximately 380,000 words, two short prefaces, one introduction, and three main sections.
The introduction explains the extreme importance and urgency of studying the labor theory of value, clarifies why it needs to be reexamined, and outlines the methodological principles that should guide such reflection. It points out that only by relying on practice to overcome the limitations of Marxist economics can one truly uphold the scientific spirit of Marxism.
The first section analyzes the theoretical premises, analytical logic, and theoretical structure of the labor theory of value in classical and Marxist economics, indicating under what conditions it was proposed, what conditions it suits, and what conditions it does not. It also compares the gains and losses of classical and Marxist economics on certain key issues of the theory of value.
The second section examines the rise, peak, and decline of the labor theory of value in Western mainstream economics from the perspective of the entire history of the development of the theory of value. It also explains the transformation and influence of the utility theory of value that replaced it.
The third section presents a systematic study of the debates surrounding Marx's transformation theory of value.