What is Cost-of-Production Theory of Value The cost-of-production theory of value is a theory that is used in economics. This theory states that the price of an item or condition is decided by the total amount of the resources that were taken into consideration during its manufacture. Depending on the circumstances, the cost may include any of the production and taxes variables. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Cost-of-production theory of value Chapter 2: David Ricardo Chapter 3: Labor theory of value Chapter 4: Supply and demand Chapter 5: Piero Sraffa Chapter 6: Comparative advantage Chapter 7: Price Chapter 8: Transformation problem Chapter 9: Marginalism Chapter 10: Classical economics Chapter 11: Subjective theory of value Chapter 12: Exchange value Chapter 13: Theory of value (economics) Chapter 14: Law of value Chapter 15: Prices of production Chapter 16: Value (economics) Chapter 17: Ricardian socialism Chapter 18: Criticisms of the labour theory of value Chapter 19: Perspectives on capitalism by school of thought Chapter 20: International trade theory Chapter 21: Cambridge capital controversy (II) Answering the public top questions about cost-of-production theory of value. (III) Real world examples for the usage of cost-of-production theory of value in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of cost-of-production theory of value.

This book looks at the value and distribution debates on the theories of Adam Smith. A variety of the aspects of his work are covered in this book such as his labour command measure, as are a number of interpretations and criticisms.

Marx's Theory of Price and its Modern Rivals provides an original look at how Marx understood the role of money, extending his theory to consider how prices move over the course of business cycles. Key modern theories of price are also analysed; Neoclassical, Post Keynesian and Sraffian theories are contrasted with Marxian thought.

The theory of costs is a cornerstone of economic thinking, and figures crucially in the study of human action and society. From the first day of a principles-level course to the most advanced academic literature, costs play a vital role in virtually all behaviors and economic outcomes. How we make choices, why we trade, and how we build institutions and social orders are all problems that can be explained in light of the costs we face. This volume explores, develops, and critiques the rich literature on costs, examining some of the many ways cost remains relevant in economic theory and practice. The book especially studies costs from the perspective of the Austrian or “causal-realist” approach to economics. The chapters integrate the history of economic thought with contemporary research, finding valuable crossroads between numerous traditions in economics. They examine the role of costs in theories of choice and opportunity costs; demand and income effects; production and distribution; risk and interest rates; uncertainty and production; monopsony; Post-Keynesianism; transaction costs; socialism and management; and social entrepreneurship. Together, these papers represent an update and restatement of a central element in the economic way of thinking. Each chapter reveals how the Austrian, causalrealist approach to costs can be used to solve an important problem or debate in economics. These chapters are not only useful for students learning these concepts for the first time: they are also valuable for researchers seeking to understand the unique Austrian perspective and those who want to apply it to new problems.

In this book Ernesto Screpanti provides a rigorous examination of Marx’s theory of exploitation, one of the cornerstones of Marxist thought. With precision and clarity, he identifies the holes in traditional readings of Marx’s theory before advancing his own original interpretation, drawing on contemporary philosophy and economic theory to provide a refreshingly interdisciplinary exegesis. Screpanti’s arguments are delivered with perspicuity and verve: this is a book that aims to spark a debate. He exposes ambiguities present in Marx’s exposition of his own theory, especially when dealing with the employment contract and the notions of ‘abstract labor’ and ‘labor value’, and he argues that these ambiguities have given rise to misunderstandings in previous analyses of Marx’s theory of exploitation. Screpanti’s own interpretation is a meticulously argued counterpoint to these traditional interpretations. Labour and Value is a significant contribution to the theory of economics, particularly Marxist economics. It will also be of great interest to scholars in other disciplines including sociology, political science, and moral and political philosophy. Screpanti’s clear and engaging writing style will attract the interested general reader as well as the academic theorist.