This is a prepublication version of the article by the same name in the Journal of Australian Political Economy. It should be cited as “Freeman, A. 2012 'The Profit Rate in the Presence of Financial Markets: a Necessary Correction'. Journal of Australian Political Economy, Number 70, Summer...

Both Rosa Luxemburg and Michal Kalecki utilised Marx’s scheme’s or reproduction as the starting point of their analysis of economic dynamics. However, Luxemburg did not realise that they were not meant to serve as models of capitalist growth, but rather to show that the conditions for stable...

This paper argues that Marx’s law of the falling rate of profit applies to the problematic of choice of technique in the context of accumulation of capital, and not to the problematic of choice of technique in the context of technological change or new innovation as such. In this context,...

This paper defends The Transformation of Values into Prices on the Basis of Random Systems, published in EIER, by answering to the Comments made in the same journal by Professors Mori, Morioka and Yamazaki. The clarifications mainly concern the justification of the randomness assumptions, the...

The contributions of the neoinstitutionalist school are recognized today like one of the more important in the economic field; this due that include a range of aspects that are fundamental in the taking of decisions of the companies called Transaction Costs in their economic analysis of the...

This paper is the first part of a Marxian critique of the theory of the firm focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter, marginal analysis is introduced culminating in the derivation of the Labour Value Function as the supply curve of the...

This paper is the first part of a Marxian critique of the theory of the firm, focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter marginal analysis is introduced, culminating in the derivation of the Labour Value Function as the supply curve of the...

The law of value as the foundation of the prices - This article shows that the law of value is axiomatic and constitutes the necessary foundation of the prices of production. Giving up this foundation means to break with the self-found principle of science, to abandon the unifying principle of...

<em>Marx in the matrix. L’algebra del "lavoro vivo"</em> - This paper provides a general overview on the recent interpretations of Marx’s analysis of value, money and income distribution. The paper is organized as follows. Section 1 introduces the original Marxian formulation of labour theory of...