Abstract
Goods of utility, in the final analysis, contain two parts of natural value and labor value: the natural value is created by god and given to us for free, the labor value is the human labor which is condensed in the commodity without any difference, and the commodity value is reflected by the labor value. The essence of human labor is the process of consuming the energy and life time of the body and doing physical work to the object of labor. The value of labor, W, is the square root of the product of the energy consumed by the worker, E, and the time spent on labor, T () . By discovering the formula of commodity labor value, we can design a new currency that conforms to the principles of freedom and fairness—the Talent (symbol: ), whose value corresponds to its value: , J is joules, S is seconds. The Talent can perform all the functions of a kind of currency.
Highlights
On the natural value of commodities, there are relationships among supply and demand of commodities and prices, etc., there are numerous economic theories and works related over the centuries, and many brilliant achievements have been made, which have built a magnificent economic building
In the final analysis, contain two parts of natural value and labor value: the natural value is created by god and given to us for free, the labor value is the human labor which is condensed in the commodity without any difference, and the commodity value is reflected by the labor value
By discovering the formula of commodity labor value, we can design a new currency that conforms to the principles of freedom and fairness—the Talent, whose value corresponds to its value: 1 Ω|| = 1 J ⋅S, J is joules, S is seconds
Summary
On the natural value of commodities, there are relationships among supply and demand of commodities and prices, etc., there are numerous economic theories and works related over the centuries, and many brilliant achievements have been made, which have built a magnificent economic building. As for the value theory of commodity labor, that is, how to measure the undifferentiated human labor contained in commodities, economists and scholars differ greatly, so far there is still no agreement. This great subject is the most brilliant pearl in the laurels of economics and a major problem that has plagued economists for centuries. Research structure: based on the most basic common sense (axiom) of human economic activities, this paper uses logical deduction methods such as elimination method, contradiction method and progressive method to deduce the value connotation and measurement method of commodities step by step, and designs a new currency according to the corresponding relationship of commodity value
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