How the Labor Theory of Value Emerges from Egalitarianism
Fix, Blair.
(2021).
Economics from the Top Down. 11 September.
(Article - Magazine; English).
Preview |
Cover Image
20210911_fix_how_the_labour_theory_of_value_emerges_from_egalitarianism_front.jpg Download (42kB) | Preview |
Preview |
PDF (Full Text)
20210911_fix_how_the_labour_theory_of_value_emerges_from_egalitarianism.pdf Download (3MB) | Preview |
HTML (Full Text)
20210911_fix_how_the_labour_theory_of_value_emerges_from_egalitarianism.htm Download (233kB) |
|
Other (Full Text - EPUB)
20210911_fix_how_the_labour_theory_of_value_emerges_from_egalitarianism.epub Download (6MB) |
Alternative Locations
Abstract or Brief Description
The purpose of this essay is to put the last vestiges of the labor theory of value to rest. My goal is to explain why when we look at large sections of the economy, we find that value added correlates with labor time. The correlation comes not from some universal law of value. Instead, I argue that it results from a simple heuristic: humans seek income that is equivalent to their peers’. I call this principle the ‘egalitarian heuristic’. If it holds, even in rough form, then value added will correlate strongly with labor time. In short, we do not need the labor theory of value to explain the evidence.
Language
EnglishPublication Type
Article - MagazineKeywords
egalitarianism labour theory of value MarxismSubject
BN LabourBN Methodology
BN Production
BN Region - North America
BN Value & Price
BN Business Enterprise
BN Capital & Accumulation
BN Ideology
BN Industrial Organization
Depositing User
Jonathan NitzanDate Deposited
15 Sep 2021 18:23Last Modified
22 Feb 2023 18:49URL:
https://bnarchives.net/id/eprint/704Actions (login required)
View Item |