Value theory lies at the heart of Marxist political economy for three key reasons. First, it is the abstract basis on which to understand the social relations of capitalist commodity producing society. Second, it attaches complex forms, such as price and profit, to simple underlying determinants. Third, it addresses the dialectics of change and reproduction. In addition, value theory is apposite in the current renewal of interest in the economy across the social sciences.
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References
1.
Fine, B. (1997) ‘The New Revolution in Economics’, Capital & Class, no 61, Spring, pp.143–48.
2.
Fine, B. (1998) ‘Value Theory: A Personal Account’, Utopia, no 28, pp. 9–27, translated into Greek.
3.
Fine, B. (2001) Social Capital versus Social Theory: Political Economy and Social Science at the Turn of the Millennium, London: Routledge.
4.
Fine, B. (ed) (1986) The Value Dimension, London: Routledge.
5.
Fine, B., C. Lapavitsas and A. Saad-Filho (2001) Transforming the Transformation Problem: Why the “New Solution” Is a Wrong Turning, mimeo.
