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...

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...

This article was submitted in 1999 to the Review of Radical Political Economy but was rejected. It responds to Gérard Duménil and Dominique Lévy’s (1999) “The conservation of value: a rejoinder to Alan Freeman”. This was a critique of the Temporal Single-System (TSS) interpretation of...

This is a proposal to restate the theory of capital along critical Marxian lines aimed at providing a better integration of the theory of capital with the theory of money and finance. The time value of money must be properly accounted for. An analytical method is proposed to accomplish this...

This paper was submitted to the 2001 conference of the International Working Group on Value Theory at the Eastern Economic Association. It was an initial short response to the idea, which has become common amongst Simultaneoust Marxist Economists, that in Marx’s theory, equilibrium or...

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...

This paper, presented at the 1998 conference of the European Association for Evolutionary Political Economy in Lisbon, shows how variations in the value of money, and in the exchange rate between different moneys of account, lead to transfers of value on the one hand between national or...

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 paper establishes, and illustrates for the case of the UK, a temporal method for calculating the labour values of outputs from any process or sector of a market economy. It exhibits the temporal calculation of the Monetary Equivalent of Labour Time (MELT), the general ratio between monetary...

This paper was presented to the Brasilian Society for Political Economy at its 1998 conference. It presents the principal differences between the temporal and the simultaneist approach to the theory of value. It was the first paper to present a formal conceptual analogy between the temporal...