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Simultaneous Valuation vs. the Exploitation Theory of Profit: A summing up

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  • Freeman, Alan
  • Kliman, Andrew

Abstract

Prepublication version of ‘Simultaneous Valuation vs. the Exploitation Theory of Profit: A summing up’, forthcoming in Capital and Class #94, Spring 2008 This paper examines the claims made by Simon Mohun and Roberto Veneziani in their Capital and Class #92 article entitled ‘The incoherence of the TSSI: a reply to Kliman and Freeman’. We show that they have effectively conceded that simultaneist interpretations of Marx’s theory contradict his conclusion that exploitation (workers’ surplus labor) is the exclusive source of profit in capitalism. We demonstrate the errors of logic in their claim that the TSS interpretation is incoherent. The debate thus confirms that the TSS interpretation – contrary to simultaneist interpretations – reproduce all Marx’s principal disputed conclusions and therefore constitutes a superior interpretation of his theory of value.

Suggested Citation

  • Freeman, Alan & Kliman, Andrew, 2008. "Simultaneous Valuation vs. the Exploitation Theory of Profit: A summing up," MPRA Paper 6891, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:6891
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    File URL: https://mpra.ub.uni-muenchen.de/6891/1/MPRA_paper_6891.pdf
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    References listed on IDEAS

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    1. Mohun, Simon & Veneziani, Roberto, 2006. "The incoherence of the TSSI," MPRA Paper 30451, University Library of Munich, Germany.
    2. Kliman, Andrew & Freeman, Alan, 2006. "Replicating Marx: a Reply to Mohun," MPRA Paper 6890, University Library of Munich, Germany.
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    Cited by:

    1. Cavalieri, Duccio, 2015. "Structural interdependence in monetary economics: theoretical assessment and policy implications," MPRA Paper 65528, University Library of Munich, Germany.
    2. Mohun, Simon & Veneziani, Roberto, 2009. "The temporal single-system interpretation: underdetermination and inconsistency," MPRA Paper 30452, University Library of Munich, Germany.
    3. Cavalieri, Duccio, 2014. "Towards an integrated theory of value, capital and money," MPRA Paper 58198, University Library of Munich, Germany.
    4. Freeman, Alan, 2010. "Trends in Value Theory since 1881," MPRA Paper 48646, University Library of Munich, Germany, revised 04 Jan 2011.
    5. Cavalieri, Duccio, 2013. "On the theory of capital in post-industrial societies," MPRA Paper 51719, University Library of Munich, Germany.
    6. Kliman, Andrew & Freeman, Alan & Potts, Nick & Gusev, Alexey & Cooney, Brendan, 2013. "The Unmaking of Marx’s Capital: Heinrich’s Attempt to Eliminate Marx’s Crisis Theory," MPRA Paper 48535, University Library of Munich, Germany, revised 22 Jul 2013.
    7. Cavalieri, Duccio, 2013. "Towards a revision of the theory of capital," MPRA Paper 47351, University Library of Munich, Germany.

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    More about this item

    Keywords

    Value; Price; Money; Labour; Marx; MELT; Okishio; TSSI; temporalism; rate of profit;
    All these keywords.

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)

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