The classical labour theory of value and the future of American power

Doru TSAGANEA

Abstract


In the present article the author makes an eloquent inquiry regarding the current economic and financial crisis and its relationship with the classical labour theory of value. The author realized a full synopsis about economical, social and military evolution of America after the Second World War until nowadays, stressing out the assertion that “the military power is depending on the economic one”.

As a conclusion, the author presents some of the key actions and policies strongly needed for The United States in order to remain the preeminent superpower of the world in the 21st century.


Keywords


economic and financial crisis, labor theory of value, military power, economic power, sustainable development

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References


Adam Smith (1977), Inquiry into the Nature and Causes of the Wealth of Nations, University of Chicago Press.

David Ricardo (2005), The Principles of Political Economy and Taxation, Barnes and Noble.

John Keegan (1988), The Price of Admiralty, Penguin Books, New York.

Karl Marx (1996), Das Kapital: A Critique of Political Economy, Regnery Publishing Inc.

Louis Berenquer (2000), The Labor-Value Theory, Xlibris Corporation.

Peter C. Dooley (2009), The Labor Theory of Value, Routledge Frontiers of Political Economy.

R. Edwards, S. Bowles and F. Roosevelt (2004), Understanding Capitalism, Oxford University Press.

Robert L. Heilbroner (1999), The Worldly Philosophers: The Lives Times and Ideas of the Great Economic Thinkers, Simon and Shuster.

Roger C. Altman, Globalization in retreat, Foreign Affairs, Council on Foreign Relation, Volume 88, No. 4, July/August 2009, pp. 2-7.

Roger C. Altman, The Great Crash, 2008, Foreign Affairs, Council on Foreign Relation, Volume 88, No. 1, January/February 2009, pp. 2-14.

www.whitehouse.gov/the-press-office/remarks-president-state-union-address.




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