Prepublication version of ‘Simultaneous Valuation vs. the Exploitation Theory of Profit: A summing up’, forthcoming in Capital and Class #94, Spring 2008 This paper examines the claims made by Simon Mohun and Roberto Veneziani in their Capital and Class #92 article entitled ‘The...

This unpublished paper was developed out of a numerical example posted on the PEN-L list in June 1995 and submitted to Review of Political Economy in September 1996. It demonstrates that, contrary to the ‘Fundamental Marxian Theorem’ (FMT) and the claims of the surplus (post-Sraffian)...

This article discusses two major conceptions of competition, the classical and the neoclassical. In the classical conception, competition is viewed as a dynamic rivalrous process of firms struggling with each other over the expansion of their market shares. This dynamic view of competition...

This was presented to the First International Seminar on Nuevas Direcciones en el Pensamiento Económico Crítico (New Directions in Critical Economic Thought), organised by the Departiment of Applied Economics, Faculty of Politics, Universidad Complutense de Madrid, Madrid, 10-12 May 1999 It...

This paper was presented to the 1998 conference of the Brazil Society for Political Economy. Two short sections are flagged for later incorporation, and this never happened so the article is until now unpublished. The ground these were to address is fully covered elsewhere, however this text...

This paper was produced as a study aid, to help people understand twentieth-century debates about Marx’s theory of the profit rate. It discusses and dissects the principal criticisms of Marx’s formulation of the ‘law of the tendential fall in the profit rate’. It is I think one of the...

This article discusses two major conceptions of competition, the classical and the neoclassical. In the classical conception, competition is viewed as a dynamic rivalrous process of firms struggling with each other over the expansion of their market shares at the expense of their competitors....

In discussions on the rate of profit and its tendency to fall and its role in Marxist theory, a number of phrases are often employed without clarifying what these might really mean. Primary among these are such phrases as ‘the rate of profit must ultimately fall’ and ‘the counter-acting...

This unpublished paper, written for distribution on the OPE-L list, seeks to clarify the conception of socially necessary labour time in Marx’s conception of value. It shows that this is not reducible to ‘replacement cost’ as simultaneist authors argue. Moreover that the implied conception...

This paper argues that Marx’s law of the falling rate of profit applies to the problematic of choice of technique in the context of accumulation of capital, and not to the problematic of choice of technique in the context of technological change or new innovation as such. In this context,...