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Principles of capitalistic commodity production

Author

Listed:
  • Fritz Helmedag

    (Chemnitz University of Technology, Germany)

Abstract

The causal structure of capitalistic commodity production can be revealed by notionally separating total output into two categories: 'necessaries' bought by employees, and the rest constituting society's surplus. The rate of profit is determined in the wage good industry and becomes the system?s key variable. In association with demand for 'luxuries' it governs the respective amount of profit accruing to the two sectors as well as the corresponding employment. The consequences for economic policy contradict predominant recipes.

Suggested Citation

  • Fritz Helmedag, 2012. "Principles of capitalistic commodity production," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 9(1), pages 23-34.
    • Handle: RePEc:elg:ejeepi:v:9:y:2012:i:1:p23-34
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    Citations

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    Cited by:

    1. Jens Reich, 2013. "Principles of capitalistic commodity production reconsidered," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(3), pages 274—281-2, December.
    2. Eckhard Hein, 2019. "Karl Marx: an early post-Keynesian? A comparison of Marx's economics with the contributions by Sraffa, Keynes, Kalecki and Minsky," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 16(2), pages 238-259, September.
    3. Fritz Helmedag, 2014. "Book review: Peter Flaschel and Sigrid Luchtenberg, Roads to Social Capitalism: Theory, Evidence, and Policy (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2012) 384 pages," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(1), pages 129-131, April.
    4. Fritz Helmedag, 2013. "Principles of capitalistic commodity production: a rejoinder," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(3), pages 282—285-2, December.

    More about this item

    Keywords

    effective demand; employment; income shares; labour theory of value; rate of exploitation; rate of profit; rate of surplus value;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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