Value, Competition and Exploitation. Marx, the Classics and the United Nation's System of National Accounts

This book shows that Marx's Labor Theory of Value can be understood as integral part of the United Nations's System of National Accounts in the general form given to it by Nobel Laureate Richard Stone and his team in 1968. Stone's very general concept of 'total labor costs' indeed fulfills important Marxian propositions, as e.g. 'the law of falling labor content'. This measure of 'total labor costs' confirms Marx's theory of exploitation empirically without any need for 'value / price invariance principles' between 'essence' and 'appearance' and also without any need for so-called 'prices of production', a purely hypothetical intermediate pricing system behind average market prices. The UN's SNA of 1990, in particular its new measurement of labor productivity -- due to its incompetent revisions -- however no longer provides this set of coherently defined concepts and propositions -- for which no 'transformation problem' whatsoever has to be solved or even to be formulated, in analytical 'Marx's Economics' the vulgar form of Marxism after the 1980's.
This website provided a public domain (non-commercial) pre-publication platform, first established in March 2015, the preliminary chapters of which will now appear infinalized form as book at Edward Elgar Publishing in April 2018.   
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