Feng Zhao, Jianbao Zhang and Zhen Luo
The correlations and deviations between market prices, production prices and values are critical indexes for testing the labor theory of value. However, there is not yet a…
Abstract
Purpose
The correlations and deviations between market prices, production prices and values are critical indexes for testing the labor theory of value. However, there is not yet a universally accepted method of solving for the production price vector, and given the complexity and volatility of economic dynamics, production prices based on the assumption of economic equilibrium cannot be accurate measuring. This paper attempts to propose a new approach to test the labor theory of value.
Design/methodology/approach
This paper proposes a different approach. From the perspective of disequilibrium price, the paper deduces that the range of the relative prices of commodities is determined by the relative value, the rate of surplus-value and the technical structure of production inputs, with relative price fluctuating within the value range specified by the labor theory of value under market competition influences.
Findings
With empirical research results based on China’s economic data, this paper not only affirms the scientific and practical explanatory power of the labor theory of value in a more general sense but also uncovers how surplus value is distributed across sectors, which can be used to analyze market competition and technical relations and their impacts on industrial structure and distribution.
Originality/value
The disequilibrium analytical framework provides a new perspective for the empirical study of labor theory of value. Moreover, it evolves the labor theory of value into a robust empirical framework, breaking through the theoretical path of the traditional labor theory of value that is mostly limited to the normative discussion of exploitation.
Details
Keywords
Zhenlei Yang, Yuzhou Du, Bo Ma, Qian Wang and Chao Yang
The purpose of this study is to campare the corrosion behavior of Az91 films and bulk sample, in the objective to provide reference for the corrosion resistance improvement of Mg…
Abstract
Purpose
The purpose of this study is to campare the corrosion behavior of Az91 films and bulk sample, in the objective to provide reference for the corrosion resistance improvement of Mg alloys.
Design/methodology/approach
AZ91 films with various thickness values are produced by magnetron sputtering technique, and the corrosion behavior was characterized by immersion tests and electrochemical measurements.
Findings
The AZ91 films exhibited a preferred orientation with basal planes parallel to the surface and increased densification with the increase of thickness, and a superior corrosion resistance for the AZ91 films compared with the bulk sample.
Originality/value
The preferred (0002) basal planes in AZ91 films benefited the corrosion resistance and the nanoscale AZ91 films facilitated the development of a dense passivation film. Consequently, AZ91 film exhibited a superior corrosion resistance.