The most effective way to silence criticism is a justification on the very terms of the likely critique. When an action is rationally justified, how can reason deny its legitimacy? This paper concerns critical strategies that have been employed for addressing the resistance of rationality to...

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...

This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo ([7]), in the context of general convex economies with heterogeneous agents. It is proved that the Fundamental Marxian Theorem is not preserved in his subjectivist approach,...

Henryk Grossmann was the first Marxist economist that proposed a theory of crisis based on the Marxian law of the falling rate of profit due to the increasing organic composition of capital. This view, while initially disappointingly minotirarian, has become very popular nowadays within Marxist...

Keynes, following the tradition of Marx, argued that all values are created by labour and profits. However, functional income distribution between wages and profits is explained differently. In Marx's explanation of functional income distribution, wages are given as a basket of goods needed for...

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), respectively, are analysed in the context of general...