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Towards a Higher Stage of Marxian Economics: The Concept of ‘Value’ Fundamentally Re-examined and Developed

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Marx’s Capital and One Free World
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Abstract

The theoretical backbone of Marxian economics has been fossilised. Not that the contemporary Marxists are idle in their analysis of the new phase of postwar capitalism. Nor that the socialist countries are not making rapid economic progress. The problem is that the economic theory which should serve as the guide in these and other fields is now turned into a fetter on further progress.

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Notes

  1. Resembling what Oscar Lange intended in his ‘Marxism and Bourgeois Economies’, Zycie szkoly wyzszej, April and May 1958: Japanese translation in Keizai Seminar, Feb. 1959.

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  2. John Strachey, Contemporary Capitalism, Victor Gollancz, London, 1956, pp. 63–4.

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  3. Joseph M. Gillman, The Falling Rate of Profit — Marx’s Law and its Significance to Twentieth Century Capitalism, Dennis Dobson, London, 1956, p. 89.

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  4. Karl Marx, Theories of Surplus Value (Sections), translated by G.A. Bonner and Emile Burns, Lawrence & Wishart, London, 1951, p. 194.

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  5. Paul A. Baran, Political Economy of Growth, Monthly Review Press, New York, 1957, p. 24.

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  6. Ronald L. Meek, Studies in the Labour Theory of Value, Lawrence & Wishart, London, 1956, p. 7.

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  7. Я. А. Певзнер, ‘Повторного счетд услуг не существует’, Мировая экономика и межднародные отношения, по. 3, 1969, стр. 92.

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  8. Nobuo Iimori, Theory of Productive Labour — Economics of Service Sector ( Seisanteki-rodo-no-riron-Service-Bumon no Keizaigaku), 1977, p. 173.

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© 1991 Tadao Horie

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Horie, T. (1991). Towards a Higher Stage of Marxian Economics: The Concept of ‘Value’ Fundamentally Re-examined and Developed. In: Marx’s Capital and One Free World. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11618-8_1

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