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

Ma, Yan Yan; Yan, Jinqiang

doi:10.13169/worlrevipoliecon.3.4.0444

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World Review of Political Economy

Volume 3, Issue 4

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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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Author(s): Yan Ma , Jinqiang Yan

Publication date (Print): 1 December 2012

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: Steedman's Critique, joint production, theoretical context, 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.

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Journal

Journal ID (doi): 10.13169

Journal ID (publisher-id): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

ISSN (Electronic): 20428928

Publication date (Print): 1 December 2012

Volume: 3

Issue: 4

Pages: 444-456

Article

Publisher ID: worlrevipoliecon.3.4.0444

DOI: 10.13169/worlrevipoliecon.3.4.0444

SO-VID: b2f4ac5c-8b31-455a-8064-20d1eb3b5d43

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

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