TY  - JOUR
AU  - TAO, Weiqun
PY  - 2026
TI  - An Analysis of Empirical Research on the Labor Theory of Value Using Input-Output Tables
JO  - Political Economy Quarterly
SN  - 2097-1516
SP  - 1
EP  - 26
VL  - 5
IS  - 2
AB  - For the empirical research on the labor theory of value using input-output tables, this paper conducts a relatively systematic and comprehensive study, aiming to basically form a logicalclosed loop so as to deepen and enrich the empirical research on the theory. The value magnitude defined in Marx’s labor theory of value—the socially necessary labor time is a unity of the “first meaning” and the “second meaning”. The socially necessary labor time of the “second meaning” can only be established through the realization of social reproduction. Therefore, the empirical research on the labor theory of value must be integrated with the realization of social reproduction to be complete. Such empirical research cannot bypass Marx’s social reproduction theory on the composition of the product value of the means of production and the means of consumption in the context of realizing the social reproduction with two major categories. Such empirical research by use of the input-output table is necessary and possible to expand the scope of the two major categories of goods, namely means of production and means of consumption, to include service goods, and it should be in the context of social reproduction with fixed capital occupation and depreciation in reality. Under the value system and the price system, the realization of social reproduction will make social reproduction “productive”. Therefore, if the assumption that “the total amount of surplus value is equal to the total amount of profit” is followed, a theoretical relationship between the value and price of two commodities of means of production and means of consumption is obtained, which is namely “the price of a unit commodity of means of production and means of consumption is equal to its value”. The paper introduces the concept of joint production and uses the value-based input-output tables to calculate the price composition of products of means of production and means of consumption, so as to map the input-occupation-output of each industrial sector to produce the two “pure products” of means of production and means of consumption. This approach can be regarded as corresponding to the preparation of input-output tables using the indirect derivation method—UV table method. By respectively applying the sector technology assumption and the product technology assumption, a certain linear transformation is carried out on the broad input, that is, the price composition of the output of each industrial sector, converting it into the price composition of the two “pure products” of means of production and means of consumption. Given that the conclusion can be reached that “the price of a unit commodity of means of production and means of consumption is equal to its value”, the different calculation results of the product price composition of the two “pure products” obtained under the two technical assumptions using input-output tables can all be regarded as the empirical research results of the labor theory of value.
UR  - https://doi.org/10.26599/PEQ2026.9310201
DO  - 10.26599/PEQ2026.9310201