this post was submitted on 07 Jun 2024
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chapotraphouse
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Umm wasn't 'the labour theory of value' an artifact of contemporary liberal economic orthodoxy
Other gave good responses, but here are two papers which test the Marxian Labor Theory of Value with contemporary economic data if you are interested:
Zachariah, Dave. Labour Value and Equalisation of Profit Rates: A Multi-Country Study.
Tsoulfidis, Lefteris, and Dimitris Paitaridis. “Chapter 8 On the Labor Theory of Value: Statistical Artefacts or Regularities?” Research in Political Economy, edited by Paul Zarembka, vol. 25, Emerald Group Publishing Limited, 2009, pp. 209–32, https://doi.org/10.1108/S0161-7230(2009)0000025011.
The bibliography of the first paper also has a lot of related reading.