TITLE:
Commodity Value Measurement and Connotative Value Currency
AUTHORS:
Jinjun Cheng, Dian Cheng
KEYWORDS:
Labor Value, Physical Work Function, Talent Currency
JOURNAL NAME:
Theoretical Economics Letters,
Vol.10 No.3,
May
27,
2020
ABSTRACT:
Goods of utility, in the final analysis, contain two
parts of natural value and labor value: the natural value is created by god and
given to us for free, the labor value is the human labor which is condensed in
the commodity without any difference, and the commodity value is reflected by
the labor value. The essence of human labor is the process of consuming the
energy and life time of the body and doing physical work to the object of
labor. The value of labor, W, is the
square root of the product of the energy consumed by the worker, E, and the time spent on labor, T () . By discovering the formula of commodity labor value,
we can design a new currency that conforms to the principles of freedom and
fairness—the Talent (symbol: ),
whose value corresponds to its value: , J is joules, S is seconds. The Talent can perform all the functions of a kind of
currency.