A rate of profit, expressed in labour magnitudes, that allows matching total plus value with total profits is determined. The relative prices, expressed in wage units, associated with this rate ensure that total profits are equal to the difference between the sum of relative prices and the sum...

We support labour contents as an absolute and reliable measurement unit and as an accounting procedure that expresses the real costs and profits of the economic system. As far as the labour capacity of expressing real social costs and profits is concerned, we highlight the inaccuracy in the...

We support labour contents as an absolute and reliable measurement unit and as an accounting procedure that expresses the real costs and profits of the economic system. As far as this measurement capacity of labour is concerned, we try to demonstrate, that, from a theoretical point of view, the...

We deal with three subjects, namely, the presence of more than one rate of profit in an economy due to the existence of rents (absolute and monopoly rents); the subordination of the prices and the rate of profit (in price terms) to the real profit or net product, measured in value terms; and the...

In the context of the current crisis a vigorous debate is taking place with regard to its’ cause . A debate which has important policy implications in the sense that it justifies or condemns the main reaction policy to the evolution of the crisis i.e. the persistent securitization of financial...

This joint paper was presented to the Marx International II conference in Paris, 30th September-2nd October 1998. It sets out the principal propositions of the Temporal Single System Interpretation of Marx’s theory of value in a systematic and comprehensive way, making it a reference document...

The evolution of the rate of profit reflects both changes in income distribution and technical conditions of production. The purpose of this paper is to present estimates of the rate of profit for the Greek economy using input-output data spanning the period 1988-1997 and, at the same time, to...

Lain by the fact that the present crisis was not preceded by a sharp decline in the rate of profit, Marxist and heterodox economists, investigate its' causes in structural and institutional factors emerging in a «new phase» of capitalism dominated by «financialization» of capital. In this...

This text comprises chapter 13 of Marx and non-equilibrium Economics[1]. It provides a general mathematical specification of a non-equilibrium interpretation of Marx’s theory of value. It refutes the Okishio theorem and solves the transformation problem. It is a foundation work of scholarship...

The purpose of this paper is to examine the discussion among marxists about the rate of profit. This is done by the method of symptomatic reading, hence in a different way from what has become standard. Beginning from the fact that Marx and his critics draw diametrically opposite conclusions...