Abstract
General value theory has become a nonagenda item for orthodox economics. Determination of exchange value is the only value questio n asked; value theory is synonymous with price theory. Bounded by representative works of David Ricardo and Gerard Debreu, this involved a process wherein the inclusive real value base of political economy is replaced by reductionis t abstract value. The thesis is grounded on three classical value questions: the determinants, the measure, and the source(s) of value. It is developed in discussion of real value; the half-way house of neoclassicism; and post-neoclassical closure of the abstract, equilibrium-based value system. Copyright 1988 by Oxford University Press.
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