The Economic Value of Creative Mental Labor Economic Growth and the Labor Theory of Value

This book examines the role of creative mental labor in determining long-term economic growth, production costs, and product pricing. By redefining theories of value-price and growth in relation to creative mental labor, it acknowledges the role of human talent and skill in the creation of new technologies, productions, and productions methods, and highlights the impact this has on supply and demand dynamics. Traditional and neoclassical notions of human capital are challenged to present a new theory of growth that is more aligned with real life economics.

This book reevaluates ideas of economic growth by contextualising technological advancement and sustainable long-term economic growth within ideas of creative mental labor and skilled mental labor. It will be of interest to students and researchers working on labour economics.

1. Introduction: Creative mental labour and skilled mental labor.- 2. The Missing Component in Long-term Growth Theory.- 3. Long-term economic growth.- 4. Productivity increase and economic growth.- 5. Productivity increase (growth) in the service sector.- 6. Firms that “only produce technologies” and global growth.- 7. The plunder of skilled mental labor and growth in less developed countries.- 8. An alternative value/price theory based on creative mental labor.

Hasan Gürak is a Research Fellow at Lund University.