A Mathematical Approach to Marxian Value Theory

"Professor Dong-Min Rieu is a brilliant Korean Marxian economist. His contributions to the theory of value were highly evaluated and published globally in journals such as Review of Radical Political Economics, Journal of the History of Economic Thought, and Japanese Political Economy Quarterly, besides Korean Marxism 21. They endeavor to clarify the quantitative relation among labor, time and money in the value theory as an essential foundation for Marxism today. We can enjoy their essence collected in this volume as well as the author's attempt to apply it to capitalism in our age by criticizing Piketty among others."

-Makoto Itoh, Professor Emeritus, The University of Tokyo, Japan

This book clarifies the quantitative relationship between time, money, and labor productivity from the perspective of Marxian labor theory of value. The book is divided into four main parts. Part I introduces the relationship between time and money in the context of Marxian value theory. Part II explores the theory of labor exploitation. Part III turns to analysis of the rate of profit, which is a primary characteristic of classical and Marxian economics. Part IV is devoted to suggesting a new research direction in light of the main conceptual innovation of the book.

Dong-Min Rieu is Professor of Economics at Chungnam National University, Korea, where he teaches Marxian economics and history of economic thought.