In the early part of this century a debate erupted among Russian and German economists. It was started by Rosa Luxemburg’s Accumulation of Capital, which asked the question: how can capitalism reproduce itself? It was continued by many, including Nikolai Bukharin, whose reply, seven years...

This article updates the paper ‘Mr Marx and the Neoclassics’ presented at the July 1996 conference of the History of Economics Society in Vancouver. It assesses the challenge presented by temporal analysis to both neoclassical orthodoxy and orthodox interpretations of Marx’s thought. It...

This paper was first presented at the conference on value of The Laboratory for Social Critique, Rome, May, 21, 2002 and subsequently at the 2002 conference of the Association for Heterodox Economics, July 2002. This is the most complete version, presented to the 2002 conference of the Middle...

This article updates the paper ‘Mr Marx and the Neoclassics’ presented at the July 1996 conference of the History of Economics Society in Vancouver. It assesses the challenge presented by temporal analysis to both neoclassical orthodoxy and orthodox interpretations of Marx’s thought. It...

In the early part of this century a debate erupted among Russian and German economists. It was started by Rosa Luxemburg’s Accumulation of Capital, which asked the question: how can capitalism reproduce itself? It was continued by many, including Nikolai Bukharin, whose reply, seven years...

This article presents a ‘sequential and non-dualist’ interpretation of Marx’s value theory. This terminology has since been replaced by the term ‘temporal single system’ (TSSI). In such an interpretation, values transform into prices in accordance with Marx’s two equalities, and the...

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...

Since world war II there have been two quite distinct phases of world growth. In about 1965, a long slowdown set in which has still not ended. Robert Brenner (2002, 2003) has re-ignited the debate about its causes, claiming that nothing in either present or past economic theory explains it. He...

This text comprises chapter 1 of Marx and non-equilibrium Economics[1]. It specifies a non-equilibrium (temporal) interpretation of Marx’s theory of value which demonstrates a fully consistent transformation of values into prices and reproduces Marx’s tendential law of the falling profit...

This is the first published general refutation of the Okishio theorem. An earlier refutation based on a specific example was published by Kliman and McGlone in 1988. Okishio’s theorem, published in 1961, asserts that if real wages stay constant, the rate of profit necessarily rises in...