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Extra info for Algorithmic Methods in Algebra and Number Theory

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The average (labor) value- and price-rate-of-profit are of the same magnitude in situations of uniform rates of growth. A very weak side-condition (see also Chap. 1 on this matter). (c) Price / Value Theorem. Uniform ratios of profits to wages (in terms of whatever prices) in all sectors of production imply proportionality between labor values and these prices. A methodologically important proposition of Marx’s labor theory of value. (d) Redistribution Theorem. Total profits are equal to total surplus values (and the rate of exploitation is given by the ratio of total profits to total wages).

F) Imputation Principles. , see later sections of this chapter). Most proposed concepts for generalized labor values in the 1970s and 1980’5 for general production systems are hurting one or more of these principles so that either these value definitions or some of the above principles must be discarded from a further discussion on the meaningfulness of the labor theory of value. 3. Pragmatic uses of the notion of LVs: (a) Leontief Multiplier Theorem. Monetary input–output calculations of total labor costs per unit of output value determine the value/price ratios of individual commodities also in general production systems – if input–output 5 By Morishima, Okishio, Steedman, Wolfstetter, Krause, Holl¨ander, and others.

1984). The so–called ‘transformation problem’ revisited: A comment. Journal of Economic Theory, 28, 349–351. Foley, D. (1982). The value of money, the value of labor power and the Marxian transformation problem. Review of Radical Political Economy, 14, 37–47. , & Steedman, I. (1971). An input–output study of labour productivity in the British economy. Oxford Bulletin of Economics and Statistics, 33, 21–34. Lipietz, A. (1982). The so–called ‘transformation problem’ revisited. Journal of Economic Theory, 26, 59–88.

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