Social Sciences
4 years ago

Marxist theory challenges traditional views on value and capital measurement.

1 view
MPRA Paper
A Critical Marxist Approach to Capital Theory
Duccio Cavalieri

Paper Summary

The essay rethinks Marx's ideas on value and capital, moving away from just labor theory. It criticizes how income and capital are calculated, saying they ignore the cost of invested capital. It rejects other interpretations that don't question Marx's assumptions. The essay suggests a new way to convert labor-time into money that considers all costs.

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