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Books > Social sciences > Politics & government > Political ideologies > Marxism & Communism
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The Value Controversy (Paperback)
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The Value Controversy (Paperback)
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One of the fruits of the revival of socialist economic theory over
the past decade has been a wide-ranging debate about the validity
of Marx's labour theory of value. At the heart of the discussion
stands the theoretical work of Piero Sraffa and the conclusions
drawn from it by such economists as Ian Steedman. Initially
confined to a relatively narrow circle of specialists, the
controversy about value theory has since spread to wider circles of
the left. But although general awareness that the stakes of the
dispute are of concern to all socialists is now extensive,
understanding of the issues involved has remained more restricted
than need be. This volume presents, for the first time, a
comprehensive yet accessible overview of the discussion. The essays
discuss not only the value debate itself, but also its relevance to
such issues as capitalist crisis, the theory of exploitation, and
historical materialism. Comprehensible to the non-specialist, but
without sacrificing rigour or oversimplifying the issues, the
articles assembled here offer a definitive summary of the current
state of one of the crucial aspects of Marxist thought.
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