Title: The Price-Form as a Fractional Reflection of the Aggregate Value of Commodities
Abstract: The new interpretation of the labor theory of value has raised awareness among Marxist economists that the value of money must be incorporated in a coherent manner into any solution that is proposed to the long-standing transformation problem. The author proposes a fiat money form of value that extends Marx's theory of money and offers a new approach to the transformation procedure based on a reinterpretation of socially necessary abstract labor time.
Publication Year: 2007
Publication Date: 2007-09-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 15
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