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In Defense of Moral Economy: Marx's Criticism of Aristotle's Theory of Value

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Marx's criticism of Aristotle's theory of value is refuted. Aristotle's theory is explained. Marx is shown is be even more indebted to Aristotle than previously thought, but his argument for a strict commensurability of goods is shown to fail. Aristotle's solution to the problem of the incommensurability of goods, i.e., his proposal of “sufficient” commensurability “with respect to need,” is discussed as a possible solution and is shown to be representable mathematically. Aristotle's theory of value has greater explanatory power than Marx's.
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Document Type: Research Article

Publication date: January 1, 2014

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  • Archiv für Rechts- und Sozialphilosophie, edited by authorisation of the International Association for Philosophy of Law and Social Philosophy (IVR), is an international, peer-reviewed journal, first published in 1907. It features original articles on philosophical research on legal and social questions, covering all aspects of social and legal life.
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