Value. Capital. Growth: A Review of Labor Value Theory Research in Western Countries

Author: Yang Yusheng, Yang Ge
Publisher:
Publish Date: 2006-01-01
Features: This book conducts a systematic study of the history and reality of the adherence to or rejection of the labor theory of value in Western economics over more than a century, as well as the significant theoretical issues arising from it. It also connects the research on Marx's labor theory of value to an in-depth and systematic study of the capitalist labor relationship (or the issue of capitalist exploitation) and economic growth. The theme of this book is to essentially uphold and develop Marx's labor theory of value. The arguments presented demonstrate that since the inception of Marx's labor theory of value, on one side, Marxist economists have consistently upheld, defended, and developed it in essence; on the other side, various non-Marxist economists have persistently slandered, denied, and discarded it. This book adheres to the principle of theoretical innovation, striving to trace the historical evolution of Marx's economic theory (the labor theory of value), follow its new developmental threads, and study and review the latest achievements of research on Marx's labor theory of value in Western countries. The historical scope covered is extensive, ranging from Adam Smith, David Ricardo, and Marx to contemporary economists of the 21st century. Horizontally, it involves the thoughts of various Western economic schools such as Western Marxism, New Ricardianism, Neoclassicism, New Malthusianism, Keynesianism, and others. This book maintains a comparative analysis method, proposing two or more viewpoints for each topic for comparison. Some comparisons are longitudinal (comparing the views of economists from different periods), while others are horizontal (comparing the views of economists from different schools in the same period). Through this comparison, it grasps the connotations and theoretical significance of each theoretical perspective.