Metaverse, SED Model, and New Theory of Value

Table 1

The definitions of labor value and use value in new theory of value and their counterpart in Newtonian mechanics.

Concepts in economics	Concepts in Newtonian mechanics	Mathematical notation	Dimension
(A) Basics
Labor time	Time		(T)
Product quantity	Distance		(L)
Economic quality	Mass		(M)
Labor productivity	Velocity		(LT^−1)
Labor production acceleration	Acceleration		(LT^−2)
Force of labor	Force		(MLT^−2)
(B) Labor value
Labor value of commodities	Work		(L^2MT^−2)
Unit labor value	—		(L^2MT^−2)
Legal monetary aggregate	—	;	(kL^2MT^−2)
Commodity price	—		(kL^2MT^−2)
Kinetic energy of labor value	Kinetic energy	,; Kinetic energy of labor value of means of production , kinetic energy of labor value of the force of labor; ,	(kL^2MT^−2)
Potential energy of labor gravitational force	Potential energy	,	(L^2MT^−2)
Surplus labor value	Lagrangian		(kL^2MT^−2)
Constant capital (means of production)	Kinetic energy	;	(kL^2MT^−2)
Variable capital (force of labor)	Kinetic energy	;	(kL^2MT^−2)
Surplus value rate	—		(K )
Profit	—		(kL^2MT^−2)
Profit rate	—		(K )
(C) Use value
Consumption quantity	—		(L)
Demand quantity	—	, where represents the type of products and represents the type of utility type with each type of products	(LT^−1)
Utility quantity	—		(LT^−1)
Force of consumption	—		(MLT^−2)
Utility level	—		(M)
Use value	—		(L^2MT^−2)
Total social market sales	—	, where represents purchasing power of legal tender	(kL^2MT^−2)

Note. For the sake of simplicity, assume that the economic quality does not change over time; represents the conversion coefficient between the unit quantity of legal tender issued by a country under the non-gold standard and the total labor value of commodities, i.e., the price index.