Technological innovation, international production prices and exchange rates
扩展了马克思的价值转化理论到国际经济领域，提出放弃国际资本不流动假设并发展马克思主义汇率理论，认为技术创新和竞争决定国际价值再分配和汇率长期变动。
Usually, Marxist attempts to theorize international production prices share two drawbacks: they rest on the obsolete assumption of international capital and labor immobility, and ignore the need to develop a theory of exchange rates. The approach submitted here extends Karl Marx's transformation procedure of individual into social values to the international economy. This requires that the hypothesis of international capital immobility be dropped and that a Marxist theory of exchange rates developed. Both the international redistribution of value and long-term movements in exchange rates are made to depend upon technological innovation and competition. Copyright 1991 by Oxford University Press.