Ronald Meek has (deliberately) ignored a very important discovery of Jevons. When labour is measured in terms of marginal labour values prices are proportional to these values and commodities exchange accordingly. This has been rediscovered by Soviet economists and that has been published in the...

The present paper on the now partly well known Russian mathematician and "amateur economist" v. Charasoff was originally written in 1987 together with H. Duffner three years after Charasoff's remarkable contribution of 1910 "Das System des Marxismus" (The system of Marxism) had been rediscovered...

This paper tries to clarify the logical structure of the relationship between labour values and prices from an axiomatic perspective. The famous 'transformation problem' is interpreted as an impossibility result for a specific interpretation of value theory based on specific assumptions and...

Marx's justification of his theory of surplus value in the face of unequal compositions of capital, by interpreting total profits as a redistribution of surplus value, is not correct in general. However, it is shown here that the equality holds if the input matrices are random and the labour...

The concept of surplus is central in the analysis of capitalism. From the Marxian literature we can identify two main approaches: on the one hand, the concept of surplus developed by Marx based on the distribution of time worked between workers and capitalists; while on the other, the concept of...

The concept of surplus is central in the analysis of capitalism. From the Marxian literature we can identify two main approaches: on the one hand, the concept of surplus developed by Marx based on the distribution of time worked between workers and capitalists; while on the other, the concept of...

Today, Karl Marx is considered one of the preeminent social scientists of the last two centuries, and ranks among the most frequently assigned authors in university syllabi. However in Marx's time, many competing sociological traditions and socialist political movements espoused similar ideas...

Austrian economist Ludwig Mises’s central role in the socialist calculation debates has been consensually acknowledged since the early 1920s. Yet, only recently, Nemeth, O’Neill, Uebel, and others have drawn particular attention to Mises’s pertinent encounter with one of the most colorful...

The most effective way to silence criticism is a justification on the very terms of the likely critique. When an action is rationally justified, how can reason deny its legitimacy? This paper concerns critical strategies that have been employed for addressing the resistance of rationality to...

This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post" view on the matter and rather looks at the output side of the respective authors, but not at the input side. This means no attempt is made at studying in a systematic way, if and...