ECONOMIC THEORY



POLITICAL ECONOMY + MONETARISM


The modern global economy requires a reformatting of the world monetary system in order to finally bring the money supply of international settlements into line with the total real mass of value in the world. What is needed now is an alternative to the current SDR (Special Drawing Rights) system. Unlike the gold exchange standard - GES and the modern SDR, the new supranational currency should be based solely on a labor-cost basis. That is, for the first time in history, a monetary unit should be tied to labor (living = materialized), rely on the actually produced mass of material wealth. That's why...

The task of synthesis of political economy and monetarism is set.



C O N T E N T


INTRODUCTION

I. POLITICAL ECONOMY

1. Definition of the research vector

2. Economics in a political economy context

3. Advantages and disadvantages of political economy science

II. LABOR AND VALUE

1. The problem of mismatch between value and embodied labor

2. The mystery of the hyperproductivity of intellectual labor

3. The labor-intensive basis of value theories

III. LABOR THEORY OF VALUE

1. Function and role of the law of value in economics

2. Value as an assessment of embodied labor

3. An unshakable modus of the theory of labor value

4. Market algorithm of value formation

5. The law of value in theory and practice

6. Labor reduction as a method of calculating value

IV. MONETARY SYSTEM

1. Money as a symbolic equivalent of value

2. Conditions of parity money - value

3. The question of the value basis of the monetary unit

V. THE THEORY OF SURPLUS VALUE

1. Accumulation as a means of expanded reproduction

2. The essence of the exploitation of wage labor by capital

3. The specifics of capitalist accumulation

4. Rate of profit: falling or rising?

5. Macroeconomic consequences of self-expansion of capital

6. The eternal question of social justice

VI. MARKET EQUILIBRIUM

1. Parity money - value as a condition of equilibrium

2. Microeconomic equilibrium of consumer demand

3. Macroeconomic equilibrium of effective demand

VII. MACROECONOMICS

1. The inevitability of state regulation of the economy

2. Dominant of the “invisible hand” of the market

3. Should economic growth be stimulated?

4. Should we fight the economic crisis?

5. Macroeconomic policy priorities

VIII. MONETARISM

1. Testing the quantity theory of money

2. The labor-value basis of monetarism

CONCLUSION

LITERATURE


Attention! There is a translation problem. In the understanding of the author:

PRICE (цена) is the monetary expression of the value of a commodity.

VALUE (стоимость) is the market valuation of the labor embodied in a commodity.

COSTS-PRICE (себестоимость) is the monetary costs of producing commodity.

COSTS-LABOR (трудозатраты) is the costs of labor for the production of good.

Under this condition, the value of the goods is presented:

In theory: VALUE > = < COSTS-LABOR → to the average rate of return.

In practice: VALUE (in price) = COSTS-PRICE + PROFIT (average).

PROFIT average is an indicator of the optimal VALUE (in price).



POLITICAL ECONOMY


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