2002•Journal of Keshan Junior Teachers CollegeRequires access

Comparative Analysis of the Labor Theory of Value and the Utility Theory of Value

Zhong Jun-liang

Abstract

In this article through the comparative analysis of the labor theory of value founded by Karl Marx and the utility theory of value founded by Alfred Marshall, which are dominating in modern economics, aims to hold and develop the labor theory of value in new conditions by criticizing the utility theory of value.

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Key concepts: Labor theory of value, Value theory, Value (mathematics), Economics, Neoclassical economics, Positive economics, Use value, Mathematical economics