2009Journal of Hubei University of EconomicsRequires access

Value Creation, Labor Contract and Firm Theory——The Exploration and Expansion to Marx’s Firm Theory

XU Guang-wei

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Abstract

Labor division,transaction and value creation by collaborative labor are general form of production of capitalist firm.The analysis on surplus value based on labor theory of value can be taken as the core of Marx’s firm theory.Volume 1,2 and 3 of Capital illustrate Marx’s firm theory from three dimensions which are history,logic and concrete form respectively.Firm is the entity of labor contract and laborers create value by collaboration.As the basis of Marx’s economic theory,labor theory of value dominates all of the categories in Marx’s economic theory system.We should pay more attention to and dig Marx’s firm theory based on labor theory of value.

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Labor division,transaction and value creation by collaborative labor are general form of production of capitalist firm.The analysis on surplus value based on labor theory of value can be taken as the core of Marx’s firm theory.Volume 1,2 and 3 of Capital illustrate Marx’s firm theory from three dimensions which are history,logic and concrete form respectively.Firm is the entity of labor contract and laborers create value by collaboration.As the basis of Marx’s economic theory,labor theory of value dominates all of the categories in Marx’s economic theory system.We should pay more attention to and dig Marx’s firm theory based on labor theory of value.

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Available abstract

Labor division,transaction and value creation by collaborative labor are general form of production of capitalist firm.The analysis on surplus value based on labor theory of value can be taken as the core of Marx’s firm theory.Volume 1,2 and 3 of Capital illustrate Marx’s firm theory from three dimensions which are history,logic and concrete form respectively.Firm is the entity of labor contract and laborers create value by collaboration.As the basis of Marx’s economic theory,labor theory of value dominates all of the categories in Marx’s economic theory system.We should pay more attention to and dig Marx’s firm theory based on labor theory of value.

Key concepts: Labor theory of value, Economics, Theory of the firm, Surplus value, Value theory, Neoclassical economics, Value (mathematics), Transaction cost

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