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      The Theoretical Context of the Arguments on Steedman's Critique and the New Explanation of “Negative Value”

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            Abstract

            “Steedman's Critique” refers to a challenge to Marx's theory of value, proposed by British economist Ian Steedman, based on the “negative value” that could arise in the case of joint production. International academia has engaged in heated discussions on this critique, which has been criticized from different perspectives. However, these efforts have not fundamentally solved the problem. In our opinion, there is no valid contribution in the logic of Steedman's “negative value” theory, but the concept of “negative value” itself is of great significance from the perspective of theoretical economics, and it also provides an important theoretical support for the development of resource and environmental economics.

            Content

            Author and article information

            Journal
            10.13169
            worlrevipoliecon
            World Review of Political Economy
            Pluto Journals
            2042891X
            20428928
            1 December 2012
            : 3
            : 4
            : 444-456
            Article
            worlrevipoliecon.3.4.0444
            10.13169/worlrevipoliecon.3.4.0444
            b2f4ac5c-8b31-455a-8064-20d1eb3b5d43
            Copyright 2012 World Association for Political Economy

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

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            Articles

            Political economics
            Steedman's Critique,joint production,theoretical context,negative value

            Note

            1. Another solution is neglected for it signifies negative price, which is not in accordance with reality.

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