Laws of Chaos
A Probabilistic Approach to Political Economy
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272 pages / February 2020 / 9781788736480

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February 2020 / 9781788737043

Classic work of economics

In this classic work of political economy, Emmanuel Farjoun and Moshé Machover rebuild two fundamental concepts of the discipline: 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.

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