The Missing Measure A Contribution to the Revival of Political Economy

Abstract

This article highlights the shortcomings of value theory as it developed throughout the history of
political economy, particularly in the works of Karl Marx, with special emphasis on rectifying
the measure of value. In this context, the article seeks to restore the significance of political
economy as a social science, after its demise was proclaimed when value theory lost its capacity
to produce objective scientific laws capable of explaining phenomena associated with economic
activity independently of market fluctuations and oscillations in prices