Exploitation and its unintended outcomes. An axiomatic obituary for Marx’s surplus value
AbstractThe present paper scrutinizes the logical foundation of Marx’s dialectic analysis of the evolving money economy. The minimalistic frame of reference is thereby given with the set of structural axioms. It turns out, first, that the commonplace notion of exploitation has to be replaced by crossover exploitation among capitalists and workers; second, that the concept of surplus value cannot explain the existence and magnitude of overall profits; finally, that the real shares of output are determined in the spheres of income and expenditure and not, as classical, Marxian and neoclassical economists unanimously maintain, in the sphere of production.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 31792.
Date of creation: 23 Jun 2011
Date of revision:
New framework of concept; Structure-centric; Axiom set; Antagonism of profits and wages; Crossover exploitation; Surplus value; Axiom of reals;
Find related papers by JEL classification:
- E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
- B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
- E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-07-02 (All new papers)
- NEP-HME-2011-07-02 (Heterodox Microeconomics)
- NEP-HPE-2011-07-02 (History & Philosophy of Economics)
- NEP-MAC-2011-07-02 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sheila C. Dow, 2003. "Understanding the relationship between mathematics and economics," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(4), pages 547-560, July.
- Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, University Library of Munich, Germany.
- Kakarot-Handtke, Egmont, 2011. "The wondrous effortlessness of unifying circuit-, money-, price- and distribution theory," MPRA Paper 31279, University Library of Munich, Germany.
- Kakarot-Handtke, Egmont, 2011.
"Keynes’s missing axioms,"
31179, University Library of Munich, Germany.
- Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
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