Monetary Expressions of Labour Time and Market Prices
Theory and Evidence from China, Japan and Korea
Bibliographic Data
| ID | 12230348 |
|---|---|
| Authors | Lefteris Tsoulfidis (0000-0003-2691-0128, University of Macedonia, Thessaloniki, Greece, corresponding author), Dimitris Paitaridis (Institute of Labour, Athens, Greece) |
| Year | 2016 |
| Volume | 29 |
| Issue | 1 |
| Pages | 111-132 |
| Publication date | 2016-12-16 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538259.2016.1260804 |
| OpenAlex | W2471999789 |
| Language | EN |
| Citations received | 1 |
| References cited | 30 |
This article presents estimates of labour values and prices of production following two approaches: the first is based on the classical and Marxian theory of value and distribution; the second on the so-called ‘new solution’ to the ‘transformation problem’ and its variant, the Temporary Single-System Interpretation (TSSI). The major advantage of the latter approach is its simplicity, along with the relatively low data requirements. Our empirical findings from the economies of China, Japan and South Korea suggest that both approaches give estimates of labour values and prices of production which are extremely close to each other as well as to actual market prices. On further examination, however, we conclude that our empirical findings are absolutely consistent with the theoretical requirements of the classical approach and contradict those of the TSSI
China · Distribution (mathematics · Econometrics · Economics · Empirical evidence · Empirical research · Interpretation (philosophy · Macroeconomics · Prices of production · Production (economics · Value (mathematics · Economic Theory and Institutions · Economic Theory and Policy · Political Economy and Marxism
Capitalism
Input-Output Analysis
An Illustrated User Guide to the World Input–Output Database
Chapter 8 On the labor theory of value
The Labour Theory of Value as Foundation for Empirical Investigations
Spurious Value-Price Correlations
The Empirical Strength of the Labour Theory of Value
From correlation to dispersion
Price–value deviations
The Determination of the “Monetary Expression of Labor Time” (“Melt”) in the Case of Non-Commodity Money
Values, prices of production and market prices
Lectures on the Theory of Production
The Value of Money the Value of Labor Power and the Marxian Transformation Problem
Decomposing the Changes in Production Prices into "Capital-Intensity" and "Price" Effects
On Some Modern Reformulations of the Labour Theory of Value
Beyond the Transformation Riddle
Testing Marx
| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2025 - 2025 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |