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Exploitation and its unintended outcomes. An axiomatic obituary for Marx’s surplus value

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  • Kakarot-Handtke, Egmont

Abstract

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.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2011. "Exploitation and its unintended outcomes. An axiomatic obituary for Marx’s surplus value," MPRA Paper 31792, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:31792
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    File URL: https://mpra.ub.uni-muenchen.de/43923/1/MPRA_paper_43923.pdf
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    References listed on IDEAS

    as
    1. Sheila C. Dow, 2003. "Understanding the relationship between mathematics and economics," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 25(4), pages 547-560.
    2. Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, University Library of Munich, Germany.
    3. Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
    4. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 32742, University Library of Munich, Germany, revised 11 Aug 2011.
    5. Kakarot-Handtke, Egmont, 2011. "The wondrous effortlessness of unifying circuit-, money-, price- and distribution theory," MPRA Paper 31279, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    New framework of concept; Structure-centric; Axiom set; Antagonism of profits and wages; Crossover exploitation; Surplus value; Axiom of reals;
    All these keywords.

    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; Kaleckian
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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