Diskussion einiger Probleme der Arbeitswertlehre bei erweiterter Reproduktion
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Diskussion einiger Probleme der Arbeitswertlehre bei erweiterter Reproduktion
Bernholz, Peter | Faber, Malte
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 92 (1972), Iss. 3 : pp. 289–305
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Bernholz, Peter
Faber, Malte
Abstract
Some Problems of the Labor Theory of Value: Extended Reproduction
The authors extend the static analysis of a previous paper on problems of the Labor Theory of Value (Schm. Jb., Vol. 91, 1971, pp. 657-668) to models with extended reproduction, i.e., with capital production. Two questions are examined: Is an optimal allocation of resources possible in a planned economy, if prices used for the optimal plan are determined according to the Labor Theory of Value? Can the Labor Theory of Value explain prices observed in a competitive market economy? The authors show successively for a model with simple and for one with capitalistic reproduction that a positive answer to each question can be given only under highly restrictive conditions