Law of Value and Theories of Value

Symmetrical Critique of Classical and Neoclassical Political Economy

• Author(s): Tiago Camarinha Lopes,
• Publisher: BRILL
• Pages: 236
• ISBN_10: 9004504222
  ISBN_13: 9789004504226
  
• Language: en
• Categories: Social Science / Sociology / General , Political Science / Political Ideologies / Communism, Post-Communism & Socialism , Business & Economics / Economics / General , Political Science / Public Policy / Economic Policy ,

Description:... In Law of Value and Theories of Value, Tiago Camarinha Lopes presents the genesis of Karl Marx’s understanding of the law of value by showing that the labor theory of value of utopian socialists and the utility theory of value of the Marginalist Revolution are equally hit by Marx’s Critique of Political Economy.

Following Marx’s distinction between classical and vulgar economy, Camarinha explains the difference between a reactionary and a progressive strand in the world of non-Marxian economics. Commonly portrayed as a dated work targeting the general framework of economic thought of the 19th century, Das Kapital appears here as the blueprint for the ongoing construction of economic science of the working class in any period of History.