Law of Value and Theories of Value: Symmetrical Critique of Classical and Neoclassical Political Economy

Tiago Camarinha Lopes' book explores Karl Marx's understanding of the law of value, criticizing utopian socialists' labor theory of value and the utility theory of value of the Marginalist Revolution. It distinguishes between a reactionary and progressive strand in non-Marxian economics and sees Das Kapital as a blueprint for constructing economic science for the working class.

Format: Paperback / softback
Length: 236 pages
Publication date: 20 April 2023
Publisher: Haymarket Books

In his comprehensive exploration of Law of Value and Theories of Value, Tiago Camarinha Lopes delves into the origins of Karl Marx's understanding of the law of value. By critically examining the labor theory of value championed by utopian socialists and the utility theory of value advocated by the Marginalist Revolution, Lopes demonstrates that both theories face equal criticism within Marx's Critique of Political Economy.

Lopes further elucidates the distinction between classical and vulgar political economy, as established by Marx, and sheds light on the varying strands within non-Marxian economics. Often perceived as a work rooted in the 19th century, Das Kapital emerges as a pivotal blueprint for the ongoing construction of economic science, particularly as it pertains to the interests and struggles of the working class across different historical periods.

Through meticulous analysis and insightful interpretation, Lopes provides a rich and detailed account of Marx's intellectual journey, highlighting the profound implications of his theories for understanding the dynamics of capitalism and the ongoing struggle for social and economic justice. This book is a valuable resource for scholars, students, and anyone interested in exploring the foundations of economic thought and the ongoing challenges facing the working class in the contemporary world.

Weight: 356g
Dimension: 152 x 229 x 15 (mm)
ISBN-13: 9781642598148