Freeman, Alan (1998): Time, the value of money and the quantification of value.
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This paper establishes, and illustrates for the case of the UK, a temporal method for calculating the labour values of outputs from any process or sector of a market economy. It exhibits the temporal calculation of the Monetary Equivalent of Labour Time (MELT), the general ratio between monetary and labour time magnitudes, for a single national economy, but does not correct for the consequences of value transfers within the world economy as a whole. The method is nevertheless generalisable, provided international value transfers are properly accounted.
|Item Type:||MPRA Paper|
|Institution:||The University of Greenwich|
|Original Title:||Time, the value of money and the quantification of value|
|Keywords:||Liquidity; Value; Quantification; MELT; MEL; Money; Labour; Marx; TSSI; Temporalism|
|Subjects:||O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist; Marxian; Sraffian
B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology
B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B14 - Socialist; Marxist
B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B12 - Classical (includes Adam Smith)
|Depositing User:||Alan Freeman|
|Date Deposited:||18. Mar 2007|
|Last Modified:||12. Feb 2013 17:56|
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