Abstract
This essay explains that labor theory of value and marginal utility theory of value measures social wealth and the value of merchandise from different aspects. Labor theory of value comes to be the basis to conduct analysis of social structure. However, marginal utility theory of value doesn't have such an effect. This leads itself to a 100 years' crooked road. The essay also demonstrates that social total utility can be united with social total labor consumption, that the marginal utility of merchandise can be united with social necessary labor time consumed by producing merchandise, and that the measurement of gross can be united with the measurement of individual as well. The proof of the unity of the two theories of value further proves the correctness of both labor theory of value and its being the basis for the analysing social economic structure.
| Translated title of the contribution | The Union of Labor Theory of Value and Marginal Utility Theory of Value |
|---|---|
| Original language | Chinese (Simplified) |
| Pages (from-to) | 91-96 |
| Number of pages | 6 |
| Journal | 财经科学 |
| Issue number | 08 |
| Publication status | Published - 2006 |
Keywords
- theory of value
- labor
- utility
- marginal utility