Is Marx's Theory of Profit Right?

The Simultaneist–Temporalist Debate

Häftad, Engelska, 2019

639 kr

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This collection focuses on a long-running debate over the logical validity of Karl Marx’s theory that exploitation is the exclusive source of capitalists’ profits. The “Fundamental Marxian Theorem” was long thought to have shown that orthodox Marxian economics succeeds in replicating Marx’s conclusion. The debate begins with Andrew Kliman’s disproof of that claim. On one side of the debate, representing orthodox Marxian economics, are contributions by Simon Mohun and Roberto Veneziani. Although they concede that their simultaneist models cannot replicate Marx’s theory of profit in all cases, they insist that this is as good as it gets. On the other side, representing the temporal single-system interpretation of Marx’s theory (TSSI), are contributions by Kliman and Alan Freeman. They argue that his theory is logically valid, since it can indeed be replicated when it is understood in accordance with the TSSI. While the debate initially focused on logical concerns, issues of pluralism, truth, and scientificity increasingly assumed center stage. In his introduction to the volume, Nick Potts situates the debate in its historical context and argues forcefully that the arguments of the orthodox Marxist economists, and the manner in which those arguments were couched, were “suppressive and contrary to scientific norms.”The volume concludes with a 2014 debate, in which many of the same issues re-surfaced, between the philosopher Robert Paul Wolff and proponents of the TSSI.

Produktinformation

Utgivningsdatum2019-04-11
Mått152 x 223 x 14 mm
Vikt299 g
FormatHäftad
SpråkEngelska
SerieHeterodox Studies in the Critique of Political Economy
Antal sidor189
FörlagBloomsbury Publishing Plc
ISBN9780739196335

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DedicationContentsEditor’s NoteAcknowledgementsAbbreviations1. A Sad Story: An Introduction to and Commentary on the Debate, Nick PottsPart I. The Simultaneist-Temporalist Debate2. Simultaneous Valuation vs. the Exploitation Theory of Profit, Andrew Kliman3. On the TSSI and the Exploitation Theory of Profit, Simon Mohun4. Deriving a Negative PNP, Andrew Kliman5. Exploitation, Profits and Time, Roberto Veneziani6. Replicating Marx: A Reply to Mohun, Andrew Kliman and Alan Freeman7. The Incoherence of the TSSI: A reply to Kliman and Freeman, Simon Mohun and Roberto Veneziani8. Simultaneous Valuation vs. the Exploitation Theory of Profit: A Summing Up, Alan Freeman and Andrew Kliman9. The Truthiness of Veneziani’s Critique of Marx and the TSSI, Andrew Kliman and Alan Freeman10. The Temporal Single-System Interpretation: Underdetermination and Inconsistency, Simon Mohun and Roberto Veneziani11. No Longer a Question of Truth?: The Knell of Scientific Bourgeois Marxian Economics an

Is Marx’s Theory of Profit Right provides a revealing insight into the way in which the debate between leading TSSI proponents and some of their principal critics has been conducted since the start of this century…. The collection will most likely leave the reader quite impressed with the serious attitude of its TSSI-adherent editors, Nick Potts and Andrew Kliman, for republishing their opponents’ articles, allowing the reader to accurately form her or his own opinion…. Is Marx’s Theory of Profit Right serves two equally important purposes: not only does it allow the skeptical reader to verify with her or his own eyes the utter inability of the TSSI’s critics – thus far – to provide its proponents with an adequate response. It also stands as valuable evidence of the unscholarly and even unscientific methods of some, if not many, in the field of economics. Personally, I stand by one of the closing remarks of Kliman and Freeman in their final article: the debate is over.