Abstract

SEOANE SALAZAR, Martín Esteban  and  ARGANDONA ZUBIETA, Herlan André. The limits of monetary approaches to the theory of value. Cuad. Econ. [online]. 2023, vol.42, n.spe88, pp.81-98.  Epub Feb 26, 2024. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v42n88.102923.

The theory of value aims to explain the way prices function as a coordination mechanism of market societies. A coherent approach to the theory of value must be monetary and, in addition, it must analyze the dynamics of the economy in a disaggregated manner, considering the interdependent relations between the different individual economic activities. Here, we review the main monetary models of theories of value, both neoclassical and classical-Marxian. We analyze their scope and limits and conclude by highlighting a dilemma they face between their results' generality and specificity.

Keywords : Theory of value; monetary approach; economic dynamics.

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