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This is a prepublication version of the article by the same name in the Journal of Australian Political Economy. It should be cited as “Freeman, A. 2012 'The Profit Rate in the Presence of Financial Markets: a Necessary Correction'. Journal of Australian Political Economy, Number 70, Summer...
Persistent link: https://www.econbiz.de/10011258153
Interpretation (TSSI) of Marx’s ideas, an approach to Marx’s theory of value which has secured significant attention in recent years …. The article explains the TSSI and highlights the milestones which led to the evolution of its key concepts. …
Persistent link: https://www.econbiz.de/10011258920
This paper provides a mathematical analysis of the Marxian theory of the exploitation of labour in general equilibrium … models. The two main definitions of Marxian exploitation in the literature, proposed by Morishima (1974) and Roemer (1982 … these definitions do not preserve the so-called Fundamental Marxian Theorem (FMT), which states that the exploitation of …
Persistent link: https://www.econbiz.de/10009019941
This is a note on labour exploitation and alienation in the economic thought of Marx and Napoleoni. It is a comment on …
Persistent link: https://www.econbiz.de/10011112852
This paper provides a formal dynamic analysis of exploitation, class inequalities and profits. A stylised model of a … existence of exploitation. Second, it is shown that, in a competitive environment, asset inequalities are fundamental for the … emergence of exploitation, but they are not sufficient for its persistence, both in equilibria with accumulation and growth, and …
Persistent link: https://www.econbiz.de/10011927981
This paper provides a formal dynamic analysis of exploitation, class inequalities and profits. A stylised model of a … existence of exploitation. Second, it is shown that, in a competitive environment, asset inequalities are fundamental for the … emergence of exploitation, but they are not sufficient for its persistence, both in equilibria with accumulation and growth, and …
Persistent link: https://www.econbiz.de/10011596432
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...
Persistent link: https://www.econbiz.de/10011788915
We emphasize the importance of competition and of the distribution of capital between sectors in the analysis of the transformation of values in production price. It is generally admitted that the fundamental Marxist equalities (the sum of prices is equal to the sum of values and the sum of the...
Persistent link: https://www.econbiz.de/10008501915
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...
Persistent link: https://www.econbiz.de/10011721991
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...
Persistent link: https://www.econbiz.de/10005836233