This book clarifies the quantitative relationship between time, money, and labor productivity from the perspective of Marxian labor theory of value. The book is divided into four main parts. Part I introduces the relationship between time and money in the context of Marxian value theory. Part II explores the theory of labor exploitation. Part III turns to analysis of the rate of profit, which is a primary characteristic of classical and Marxian economics. Part IV is devoted to suggesting a new research direction in light of the main conceptual innovation of the book.

Includes a comprehensive survey on recent debates in Marxian value theory Offers a succinct introduction to mathematical formulation of linear production models Provides a research guideline for the integration of the conventional inputoutput analysis

Autorentext

Dong-Min Rieu is Professor of Economics at Chungnam National University, Korea, where he teaches Marxian economics and history of economic thought.

Inhalt

1. Introduction.- 2. The Quantitative Connection between Value and Price.- 3. The New Interpretation: Toward a Critical Development.- 4. Labor Exploitation as the Origin of Profits.- 5. An Axiomatic Approach and the New Interpretation.- 6. The Okishio Theorem.- 7. Falling Rate of Profit: Falsifiable or Not?.- 8. Piketty after Marx.- 9. Price-Value Relation with Stochastic Profit Rate and Labor Heterogeneity.- 10. On Marx's Distinction between Produktivkraft und Produktivität.- 11. Toward an Integrated Analysis of Labor Productivity.