THE EMPIRICAL OF THE LABOUR THEORY OF VALUE: REPLY TO NITZAN AND BICHLER
Main Article Content
Abstract
The labor theory of value, originated in the classics and reformulated by Marx, has found support in numerous empirical works during the last thirty years. In many economies, sectors in monetary terms are highly correlated with them in terms of labor values. In his book Capital as Power (2009), and in a subsequent discussion online, Jonathan Nitzan and Shimshon Bichler argue that such results are invalid because the calculations do not use labor value variables but two monetary variables are correlated. Nitzan and Bichler also argue that are spurious correlations by the presence of a third variable. This article refutes both critics and consequently reinforces the empirical support for the theory of labor value.
Article Details
How to Cite
Cockshott, P., Cottrell, A., & Valle Baeza, A. (2015). THE EMPIRICAL OF THE LABOUR THEORY OF VALUE: REPLY TO NITZAN AND BICHLER. Investigación Económica, 73(287). Retrieved from https://revistas.unam.mx/index.php/rie/article/view/50512
Authors who publish in this journal agree to the following conditions:
a) The authors retain the copy rights (copyright) and give the journal the right of first publication, with the work also under the Creative Commons Attribution License that allows third parties to use what is published as long as they refer to the author or authors of the article. work and its publication in this journal.
b) The authors are free to make other contractual agreements for the non-exclusive distribution of the article they publish in this journal (such as including it in an institutional collection or publishing it in a book), provided that they clearly indicate the original publication of the work in this journal.