A Mathematical Approach to Marxian Value Theory: Time, Money, and Labor Productivity

This book explores the quantitative relationship between time, money, and labor productivity from the perspective of Marxian labor theory of value, divided into four main parts.

Format: Hardback
Length: 230 pages
Publication date: 22 July 2022
Publisher: Springer International Publishing AG

This comprehensive book delves into the intricate quantitative relationship between time, money, and labor productivity, drawing upon the Marxian labor theory of value. It is meticulously organized into four main sections, each dedicated to exploring different aspects of this complex interplay.

In Part I, the authors introduce the fundamental connection between time and money within the framework of Marxian value theory. They examine how the concept of labor power plays a central role in determining the value of goods and services produced in the economy. They also explore the historical and theoretical developments that have shaped the understanding of this relationship.

Part II delves into the realm of labor exploitation, a critical aspect of Marxian economics. The authors examine how capitalists exploit workers by paying them less than the value of their labor, leading to a surplus value that is appropriated by the capitalist class. They discuss the mechanisms through which this exploitation occurs, including the division of labor, the use of machinery, and the exploitation of non-wage labor.

Part III takes a closer look at the rate of profit, a fundamental parameter in classical and Marxian economics. The authors examine how the rate of profit is determined by the interplay between the cost of production and the selling price of the product. They explore the historical trends in the rate of profit and its implications for economic growth and inequality.

In Part IV, the authors propose a new research direction inspired by the central conceptual innovation of the book. They suggest that by examining the relationship between time, money, and labor productivity from a Marxian perspective, researchers can gain a deeper understanding of the underlying mechanisms that drive economic systems. They propose a range of research questions and hypotheses that could guide future studies in this area.

Overall, this book is a valuable resource for scholars and researchers interested in exploring the complex dynamics of time, money, and labor productivity. It provides a comprehensive and insightful analysis of these key variables, drawing upon the rich insights of Marxian labor theory of value. By examining these relationships in depth, the book offers valuable insights into the workings of capitalist economies and the potential for social and economic transformation.

Weight: 462g
Dimension: 210 x 148 (mm)
ISBN-13: 9783031078071
Edition number: 1st ed. 2022