Karl Marx's magnum opus, Das Kapital, presents an analysis of the long run dynamics of a mature capitalist economy. The analysis is conducted at two primary levels of abstraction - "capital in general" (where competition between individual capitals is abstracted from) and "many capitals" (where...

Karl Marx's magnum opus, Das Kapital, presents an analysis of the long run dynamics of a mature capitalist economy. The analysis is conducted at two primary levels of abstraction - "capital in general" (where competition between individual capitals is abstracted from) and "many capitals" (where...

This essay provides a critical Marxist reformulation, internal to the cultural tradition of Western Marxism, of Marx’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value of the young Marx in favour of a ‘mixed’ labour-and capital...

This is a paper on the theory of capital. It deals with the role of capital in a cost-of-production theory of value in which both labour and capital are directly productive. The guidelines of an analytical method are proposed. Marx’s ‘monetary expression of abstract labour-value’ (MEV) is...

Article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 18, pp285-93. Stanford, CT: JAI Press. (http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description) Responds to debate initiated in Research in...

The purpose of this paper is to examine the discussion among marxists about the rate of profit. This is done by the method of symptomatic reading, hence in a different way from what has become standard. Beginning from the fact that Marx and his critics draw diametrically opposite conclusions...

This article responds to a number of criticisms of the TSSI (sequential non-dualist) approach to the theory of value, in particular Duncan Foley’s 1997 review of Freeman and Carchedi (eds) Marx and non-equilibrium Economics, and comments from Fred Moseley in exchanges on the OPE-L discussion...

Prepublication version of article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 17, pp241-48. Stanford, CT: JAI Press. http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description This article formed part...

This is the Italian version of ‘Value and Marx: why it matters’ which appeared in Vasopollo, L (2002) (ed) ‘Un Vecchio Falso Problema: La Transformazione dei valori in prezzi nel Capital di Marx’, Roma: Laboratoria per la critica sociale. It was presented at the May 2002 conference...

This entry, submitted to Philip O’Hara’s Encyclopedia of Political Economy but not included in it, contrasts the temporal and simultaneist approaches to the formation of price and its relation to value.