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Trends in Value Theory since 1881

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  • Freeman, Alan

Abstract

This is a prepublication version of an article which originally appeared in the World Review of Political Economy. Please cite as Freeman, A. 2010. ‘Trends in Value Theory since 1881’, World Review of Political Economy Volume 1 No. 4, Fall 2010. pp567-605. The article surveys the key ideas and currents of thinking about Marx’s value theory since he died. It does so by studying their evolution, in their historical context, through the lens of the Temporal Single System 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.

Suggested Citation

  • Freeman, Alan, 2010. "Trends in Value Theory since 1881," MPRA Paper 48646, University Library of Munich, Germany, revised 04 Jan 2011.
    • Handle: RePEc:pra:mprapa:48646
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    References listed on IDEAS

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    1. Samuelson, Paul, 2012. "Understanding the Marxian Notion of Exploitation: A Summary of the So-CalledTransformation Problem Between Marxian Values and Competitive Prices," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, pages 182-202, August.
    2. Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
    3. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    4. Mohun, Simon & Veneziani, Roberto, 2006. "The incoherence of the TSSI," MPRA Paper 30451, University Library of Munich, Germany.
    5. Alan Freeman & Andrew Kliman & Julian Wells (ed.), 2004. "The New Value Controversy and the Foundations of Economics," Books, Edward Elgar Publishing, number 2274.
    6. Geert Reuten, 2004. "“Zirkel vicieux” or Trend Fall? The Course of the Profit Rate in Marx's Capital III," History of Political Economy, Duke University Press, vol. 36(1), pages 163-186, Spring.
    7. Samuel Hollander, 1981. "Marxian Economics as ‘General Equilibrium’ Theory," History of Political Economy, Duke University Press, vol. 13(1), pages 121-155, Spring.
    8. Kliman, Andrew & Freeman, Alan, 2006. "Replicating Marx: a Reply to Mohun," MPRA Paper 6890, University Library of Munich, Germany.
    9. Freeman, Alan, 1995. "Marx without Equilibrium," MPRA Paper 1207, University Library of Munich, Germany.
    10. Richard D. Wolff & Antonino Callari & Bruce Roberts, 1984. "A Marxian Alternative to the Traditional "Transformation Problem"," Review of Radical Political Economics, Union for Radical Political Economics, vol. 16(2-3), pages 115-135, June.
    11. Duncan K. Foley, 1982. "The Value of Money the Value of Labor Power and the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 37-47, June.
    12. Michele I. Naples, 1985. "Dynamic Adjustment and Long-Run Inflation in a Marxian Model," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 8(1), pages 97-112, September.
    13. Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720.
    14. Volodymyr Ryaboshlyk, 2006. "A dynamic input-output model with explicit new and old technologies: an application to the UK," Economic Systems Research, Taylor & Francis Journals, vol. 18(2), pages 183-203.
    15. Richard D. Wolff & Bruce Roberts & Antonino Callari, 1982. "Marx's (not Ricardo's) ‘Transformation Problem’: A Radical Reconceptualization," History of Political Economy, Duke University Press, vol. 14(4), pages 564-582, Winter.
    16. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    17. F. Seton, 1957. "The "Transformation Problem"," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(3), pages 149-160.
    18. Glick, Mark & Ehrbar, Hans G, 1987. "The Transformation Problem: An Obituary," Australian Economic Papers, Wiley Blackwell, vol. 26(49), pages 294-317, December.
    19. Lee, Chai-on, 1993. "Marx's Labour Theory of Value Revisited," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 17(4), pages 463-478, December.
    20. Alejandro Ramos-Mart'nez & Adolfo Rodriguez-Herrera, 1996. "The transformation of values into prices of production: a different reading of Marx's text," Chapters, in: Alan Freeman & Guglielmo Carchedi (ed.), Marx and Non-equilibrium Economics, chapter 3, pages 49-76, Edward Elgar Publishing.
    21. Paolo Giussani, 1991. "The Determination of Prices of Production," International Journal of Political Economy, Taylor & Francis Journals, vol. 21(4), pages 67-86, December.
    22. Freeman, Alan & Kliman, Andrew, 2008. "Simultaneous Valuation vs. the Exploitation Theory of Profit: A summing up," MPRA Paper 6891, University Library of Munich, Germany.
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    Cited by:

    1. Alan Freeman, 2011. "Crisis, Marxism, and Economic Laws: A Response to Gary Mongiovi," Research in Political Economy, in: Revitalizing Marxist Theory for Today's Capitalism, pages 285-296, Emerald Group Publishing Limited.

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    More about this item

    Keywords

    theory of value; Marxian economics; TSSI; New Solution; temporalism;
    All these keywords.

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General

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