Exploitation and its unintended outcomes. An axiomatic obituary for Marx’s surplus value
The 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.
|Date of creation:||23 Jun 2011|
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- Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, 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.
- 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. "The wondrous effortlessness of unifying circuit-, money-, price- and distribution theory," MPRA Paper 31279, University Library of Munich, Germany.
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