Marx without Equilibrium
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 This terminology has since been replaced by the term ‘temporal single system’ (TSSI).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.
|Date of creation:||Jul 1995|
|Publication status:||Published in Capital and Class Issue number 56, Summer 1995 (1995): pp. 49-81|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Michele I. Naples, 1989. "A Radical Economic Revision of the Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 21(1-2), pages 137-158, March.
- Harcourt,G. C., 1972.
"Some Cambridge Controversies in the Theory of Capital,"
Cambridge University Press, number 9780521096720, October.
- 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.
- Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
- 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. Full references (including those not matched with items on IDEAS)
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