Laws of Chaos: A Probabilistic Approach to Political Economy

Classic work of political economics In this classic work of political economy, Emmanuel Farjoun and Moshé Machover rebuild two fundamental concepts of the price and profit. They redefine the basic notions of political economy, relying on probabilistic–statistical methods of the kind used in the modern foundations of other sciences. This amounts to a rigorous new foundation of the labour theory of value. A defining work of Econophysics, republished for the first time since 1983, Laws of Chaos remains a challenging, innovative work of Marxist economics.