In the last three decades, two questions have been central for the Left. Is there a future for electoral socialism and social democracy? And, is it any longer possible to promote a significant redistribution of income in favour of labour? Political and economic events seem to suggest negative...

In the last three decades, two questions have been central for the Left. Is there a future for electoral socialism and social democracy? And, is it any longer possible to promote a significant redistribution of income in favour of labour? Political and economic events seem to suggest negative...

<span><span>This volume brings together all the major contributions to the recent decade-long controversy over Karl Marx's theory that exploitation of workers is the exclusive source of capitalists' profits. The debate explores different modern interpretations' success in confirming Marx's conclusion.</span></span><br /><span><span> </span></span>

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...