Rejoinder to Duncan Foley and David Laibman

Kliman, Andrew and Freeman, Alan (2000): Rejoinder to Duncan Foley and David Laibman. Published in: Research in Political Economy No. 18 (April 2000): pp. 285-293.

Abstract

Article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 18, pp285-93. Stanford, CT: JAI Press.

(http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description)

Responds to debate initiated in Research in Political Economy 17 (http://www.elsevier.com/wps/find/bookdescription.cws_home/621907/description#description)

This article formed the final part of a four-way exchange on the rate of profit which appeared in Research in Political Economy 17 and 18 in 1999 and 2000, between David Laibman, Duncan Foley, Andrew Kliman and Alan Freeman. This piece constituted Kliman and Freeman’s final response to the debate around Laibman’s initial critique of the Temporal Single System Interpretation (TSSI) of Marx’s value theory. Keywords: TSSI, MELT, value, Marx, price, profit rate, Okishio, non-equilibrium, equilibrium, money

• Item Type: MPRA Paper
• Institution: The University of Greenwich
• Language: English
• Keywords: TSSI; MELT; value; Marx; price; profit rate; Okishio; non-equilibrium; equilibrium; money; sraffa
• Subjects: 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 > B4 - Economic Methodology > B40 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B12 - Classical (includes Adam Smith); B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B14 - Socialist ; Marxist; A - General Economics and Teaching > A1 - General Economics; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B24 - Socialist ; Marxist ; Sraffian

References

Foley, D. (1982). ‘Realization and accumulation in a Marxian model of the circuit of capital’. Journal of Economic Theory 28(2): 300-319. Foley, D. (1986). Money, Accumulation and Crisis. New York: Harwood Academic. Foley, D (1997) Review of Freeman, A and Carchedi, G (1995), Eastern Economic Journal 23:4, 493–96. Foley, D. (1999). Response to David Laibman, Research in Political Economy 17, 229–33. JAI Press Foley, D.. (2000). Response to Freeman and Kliman, Research in Political Economy 18, 279–83. JAI Press Freeman, A. (1996) “Price, value and profit – a continuous, general, treatment” in Freeman and Carchedi (1996) (eds) Marx and Non-Equilibrium Economics Freeman, A. (1999). Between Two World Systems: A response to David Laibman, Research in Political Economy 17, 241–48. Freeman, A (1998) “An endogenous profit rate cycle”, presented to the 1998 conference of the International Working Group on Value Theory, New York, February 1998 Freeman, A and Carchedi, G (1995) (eds) Marx and non-equilibrium Economics, Aldershot: Edward Elgar Freeman, Alan and Andrew Kliman. (2000). Two Concepts of Value, Two Rates of Profit, Two Laws of Motion, Research in Political Economy 18, 243–67. Kliman, Andrew and Alan Freeman. 2000. Rejoinder to Duncan Foley and David Laibman, Research in Political Economy 18, 285–93. Marx (1972), Theories of Surplus Value Volume III. London:Lawrence and Wishart Okishio, Nobuo (1961) “Technical Change and the Rate of Profit”, Kobe University Economic Review, 7, 86-89.