General Conclusions

Abstract

This last chapter summarizes the main conclusions of this book regarding: the main subject of analysis of Chapter 1, the overall logical structure of Chapter 1, the substance of value, the magnitude of value, and the form of appearance of value, the dual character of the labor that produces commodities, the presupposition of physiologically equal labor, and the two states of existence of abstract human labor. It also emphasizes again that Marx’s labor theory of value explains normal equilibrium prices, not disequilibrium market prices, and also responds to Heinrich’s brief criticism of this aspect of my interpretation in a recent paper. And it closes by proposing a partial reconciliation of our two different interpretations.