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Marx without Equilibrium

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Author Info

  • Freeman, Alan

Abstract

This article presents a ‘sequential and non-dualist’ interpretation of Marx’s value theory. This terminology has since been replaced by the term ‘temporal single system’ (TSSI). In such an interpretation, values transform into prices in accordance with Marx’s two equalities, and the rate of profit falls in accordance with his formulation of the law of the tendency of the rate of profit to fall.

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File URL: http://mpra.ub.uni-muenchen.de/1207/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1207.

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Date of creation: Jul 1995
Date of revision:
Handle: RePEc:pra:mprapa:1207

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Related research

Keywords: Rate of profit; Marxist economics; value theory; Okishio Theorem; TSSI;

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References

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  1. Harcourt, G C, 1969. "Some Cambridge Controversies in the Theory of Capital," Journal of Economic Literature, American Economic Association, vol. 7(2), pages 369-405, June.
  2. Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
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Cited by:
  1. Freeman, Alan, 2010. "Trends in Value Theory since 1881," MPRA Paper 48646, University Library of Munich, Germany, revised 04 Jan 2011.
  2. Freeman, Alan, 1997. "If they're so rich, why ain't they smart? Another prelude to the critique of economic theory," MPRA Paper 52699, University Library of Munich, Germany, revised 04 Feb 2013.
  3. Freeman, Alan, 2003. "When Things Go Wrong: the Political Economy of Market Breakdown," MPRA Paper 5586, University Library of Munich, Germany.
  4. Freeman, Alan, 2003. "The Age of War: From World Market to World Conquest (English language version)," MPRA Paper 5588, University Library of Munich, Germany.

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