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Three essays on Marx's value theory

Samir Amin

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Amin defends Marx's theory of value against its critics and also tackles some of its trickier aspects. He examines the relationship between Marx's abstract concepts - such as « socially necessary labor time » - and how they are manifested in the capitalist marketplace as prices, wages, rents, and so on. He also explains how variations in price are affected by the development of « monopoly-capitalism », the abandonment of the gold standard, and the deepening of capitalism as a global system.
Amin extends Marx's theory and applies it to capitalism's current trajectory in a way that is unencumbered by the weight of orthodoxy and unafraid of its own radical conclusions.

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