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exploitation theorem (GCET) purports to demonstrate that many other commodities can be substances of value. This note argues that …
Persistent link: https://www.econbiz.de/10012252231
This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes in-trinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the...
Persistent link: https://www.econbiz.de/10012063855
Marxismus" (The system of Marxism) had been rediscovered by the Italian economists Gilibert and Egidi. It was then the second …
Persistent link: https://www.econbiz.de/10009763957
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...
Persistent link: https://www.econbiz.de/10011596404
This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo … exploitation index can be constructed. It is argued that a minimal objectivism is necessary in exploitation theory, whereby … related to the 'New Interpretation' ([1]; [3]). It is argued that it captures the core intuitions of exploitation theory and …
Persistent link: https://www.econbiz.de/10003933905
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This article demonstrates relationships that are transparent in Sraffa's standard system hold even when relative rates of profit vary persistently among industries. Even with such variations, total constant capital, total variable capital, total surplus value, and the rate of profits are...
Persistent link: https://www.econbiz.de/10012861262
Neoclassical tools of marginalism and profit maximization are used to measure labor's surplus value. Recent empirical estimates of a firm's wage elasticity of labor supply imply a surplus so large that the value of labor may exceed the total value of a firm's production. Labor value in excess of...
Persistent link: https://www.econbiz.de/10012988576