ONTOCAST interview on the Theory of the General Law of Value [Transcript]

The ONTOCAST podcast interviewed me about the general law of value.

ONTOCAST interview on the Theory of the General Law of Value

The ONTOCAST podcast interviewed me about the general law of value.

The solution to Marx’s transformation problem

Equilibrium prices, even in a capitalist economy with positive profits, represent the labour time actually supplied by workers.

A category mistake in the classical labour theory of value

On what is wrong with the classical labour theory of value, including Marx’s version of it, and how to fix it.

Karl Marx’s invisible hand

Marx’s invisible hand is the law of value: it explains how a market economy coordinates the division of labour, and therefore why the prices of commodities bear a lawful relationship to the labour time required to produce them.