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FROM THE « DUAL CHARACTER OF THE LABOUR EMBODIED IN COMMODITIES » TO PAYMENT MATRICES : A CRITICAL ANALYSIS OF MARX’S COMMODITY THEORY
Last modified: 2018-06-20
Abstract
According to Marx, the “dual character of labour embodied in commodities” characterizes the commodity division of activities. However Marx and his followers have never provided a model of values determination based on it. We rehabilitate Marx’s dual evaluation by proposing a model where money replaces labour. The matrix of payment exhibits all the properties Marx could desire: a private evaluation (sum of each row), a social one (sum of each column) and the resolution of the crisis
Keywords
Marx; value theory; labour; monetary analysis
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