When Value and Naturalism in Marx was first published in English in 1979, recent controversies in socialist economic theory had been concentrated on the tenability or untenability of Marx's labour theory of value. Marco Lippi's provocative book accepts the Sraffian correction of Marx's account of profits and prices, but goes on to ask the central question: why did Marx identify value with embodied labour-time? The answer, Lippi argues, lies in a strong—though...
