Differential Labor and Competitive Advantage: Embedding Resource-Based Theory Within Marx's Labor Theory of Value
- Topics:
- Competitive Strategy
- Tags:
- Competitive Advantage,
- Cranfield University,
- Labor,
- Marx,
- Theory
- Source:
- Cranfield University
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Overview: This paper argues that the resource-based view of the firm (RBV) assumes a labor theory of value creation. Using the Circuit of Capital as an organizing framework, the paper integrates RBV and Marx's value theory. Marx provides us with a macroeconomic explanation of value and surplus value creation, whereas RBV enables us to understand fine- grained differences in performance between competing firms. The paper divides the living labor involved in production into four categories. These categories are then used to explore issues of resource-based advantage, profit rate equalization between competing firms.
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Format: PDF | Size: 169KB | Date: Jul 2003 | Pages: 18
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