Marx's Theory of Price and its Modern Rivals [electronic resource] /
Nicholas, H.author.
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.
Description based upon print version of record.
Cover; Contents; Preface; Chapter 1 Introduction; Chapter 2 Marx's Theory of Price in the Simple Circulation of Commodities; 2.1 Why Marx begins with the simple circulation of commodities; 2.2 Understanding the simple commodity circulation process; 2.3 Understanding price in simple commodity production; 2.4 The magnitudes of reproduction prices; 2.5 Actual prices; 2.6 A digression on social and abstract labour; Chapter 3 Marx's Theory of Price - Capitalist Commodity Production; 3.1 Understanding prices in capitalism; 3.2 Marx's approach to explaining the magnitudes of prices in capitalism
3.3 The magnitudes of 'prices of production'3.4 Changes in prices of production; 3.5 Prices of production with non-producible inputs; 3.6 Monopoly prices; 3.7 Market prices; Chapter 4 Marx on Smith and Ricardo; 4.1 Adam Smith; 4.2 Ricardo; Chapter 5 Marxist Interpretations of Marx's Theory of Price; 5.1 Traditional interpretation; 5.2 Modern interpretations; Chapter 6 The Neoclassical Theory of Price; 6.1 Introduction; 6.2 The exchange process; 6.3 Understanding price; 6.4 Price constructs; 6.5 The magnitude of equilibrium relative price; 6.6 Changes in equilibrium relative price magnitudes
6.7 The magnitude of monopoly price6.8 The value of money and equilibrium money price level; 6.9 The price adjustment process; Chapter 7 The Post Keynesian Theory of Price; 7.1 Introduction; 7.2 Focus and method; 7.3 The exchange process; 7.4 Understanding price; 7.5 Explicit and implicit price constructs; 7.6 The magnitude of price; 7.7 Changes in price magnitudes; 7.8 The value of money and the aggregate money price level; 7.9 The price adjustment process; Chapter 8 Sraffa's Theory of Price; 8.1 Focus, method and approach; 8.2 The exchange process; 8.3 Understanding price
8.4 Implicit price constructs8.5 The magnitude of relative price; 8.6 Changes in relative price magnitudes; 8.7 The magnitudes of money prices; Chapter 9 Concluding Remarks; 9.1 Marx's contribution to the theory of price, or why choose Marx?; 9.2 Locating Marx's theory of price; 9.3 The significance of rehabilitating Marx's theory of price; Notes; References; Author Index; Subject Index
Includes bibliographical references and indexes.
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.
Economic policy.
Economic theory.
Economic history.
Macroeconomics.
Economics.
Economic Policy.
Economic Theory/Quantitative Economics/Mathematical Methods.
History of Economic Thought/Methodology.
Macroeconomics/Monetary Economics//Financial Economics.
Economic History.
Political Economy/Economic Systems.