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

Freeman, Alan and Kliman, Andrew (2008): Simultaneous Valuation vs. the Exploitation Theory of Profit: A summing up. Published in: Capital and Class No. 94 (January 2008)

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.

• Item Type: MPRA Paper
• Institution: The University of Greenwich
• Language: English
• Keywords: Value, Price, Money, Labour, Marx, MELT, Okishio, TSSI, temporalism, rate of profit
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist ; Marxian ; Sraffian; B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B14 - Socialist ; Marxist; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B31 - Individuals; B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B12 - Classical (includes Adam Smith)

References

Kliman, Andrew. 2001. Simultaneous Valuation vs. the Exploitation Theory of Profit, Capital and Class 73, 97–112. ______. 2003. Deriving a Negative PNP. Online at <http://akliman.squarespace.com/neg-pnp>. ______. 2007. Reclaiming Marx’s “Capital”: A refutation of the myth of inconsistency. Lanham, MD: Lexington Books. Kliman, Andrew and Alan Freeman. 2006. Replicating Marx: A reply to Mohun, Capital and Class 88, 117–26. Mohun, Simon. 2003. On the TSSI and the Exploitation Theory of Profit, Capital and Class 81, 85–102. Mohun, Simon and Roberto Veneziani. 2007. The Incoherence of the TSSI: A reply to Kliman and Freeman, Capital and Class 92, 139–45.