Trying To Help Rescue Value For Everyone

Research output: Contribution to journalArticle

Abstract

Marginalisation of heterodox economic ideas in economics departments ensures that for these ideas to endure, develop, and hopefully have influence, they must be taken up and understood by a wide range of academics in the larger field of social science. We hope to bring the debate on value theory to a wider audience by attempting to summarise, at least some of the main points of the debate, in less demanding language and through use of a less demanding mathematical technique than is conventionally employed. We shall attempt to simply, but accurately, present the Simultaneous and Dualistic Interpretation of Marx, the New Interpretation of Marx, the Temporal Single System Interpretation (TSSI) of Marx and the Value-Form position. Our purpose is not to suggest that these theories of value are either valid or invalid, but to stress how they imply very different views of how the economy works and, by implication, what issues we should focus on. Furthermore, and more controversially, we shall attempt to show how such different views fit with Marx's theory of the determination of value by labour-time and his comments on other theorists’ conceptions of value. To enable the interpretations to be clearly contrasted we shall employ a simple numerical example focusing on the question of accumulation and profitability.
Original languageEnglish
Pages (from-to)167-189
Number of pages23
JournalCritique
Volume37
Issue number2
DOIs
Publication statusPublished - 2009

Fingerprint

Rescue
Karl Marx
Economics
Economy
Theorists
Profitability
Marginalization
Labor
Conception
Language
Value Theory
Theory of Value
Social Sciences

Cite this

Potts, Nicholas. / Trying To Help Rescue Value For Everyone. In: Critique. 2009 ; Vol. 37, No. 2. pp. 167-189.
@article{5536969da95b4c0a8967b0b2a793577f,
title = "Trying To Help Rescue Value For Everyone",
abstract = "Marginalisation of heterodox economic ideas in economics departments ensures that for these ideas to endure, develop, and hopefully have influence, they must be taken up and understood by a wide range of academics in the larger field of social science. We hope to bring the debate on value theory to a wider audience by attempting to summarise, at least some of the main points of the debate, in less demanding language and through use of a less demanding mathematical technique than is conventionally employed. We shall attempt to simply, but accurately, present the Simultaneous and Dualistic Interpretation of Marx, the New Interpretation of Marx, the Temporal Single System Interpretation (TSSI) of Marx and the Value-Form position. Our purpose is not to suggest that these theories of value are either valid or invalid, but to stress how they imply very different views of how the economy works and, by implication, what issues we should focus on. Furthermore, and more controversially, we shall attempt to show how such different views fit with Marx's theory of the determination of value by labour-time and his comments on other theorists’ conceptions of value. To enable the interpretations to be clearly contrasted we shall employ a simple numerical example focusing on the question of accumulation and profitability.",
author = "Nicholas Potts",
year = "2009",
doi = "https://doi.org/10.1080/03017600902760695",
language = "English",
volume = "37",
pages = "167--189",
journal = "Critique",
issn = "0301-7605",
publisher = "Critique",
number = "2",

}

Trying To Help Rescue Value For Everyone. / Potts, Nicholas.

In: Critique, Vol. 37, No. 2, 2009, p. 167-189.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Trying To Help Rescue Value For Everyone

AU - Potts, Nicholas

PY - 2009

Y1 - 2009

N2 - Marginalisation of heterodox economic ideas in economics departments ensures that for these ideas to endure, develop, and hopefully have influence, they must be taken up and understood by a wide range of academics in the larger field of social science. We hope to bring the debate on value theory to a wider audience by attempting to summarise, at least some of the main points of the debate, in less demanding language and through use of a less demanding mathematical technique than is conventionally employed. We shall attempt to simply, but accurately, present the Simultaneous and Dualistic Interpretation of Marx, the New Interpretation of Marx, the Temporal Single System Interpretation (TSSI) of Marx and the Value-Form position. Our purpose is not to suggest that these theories of value are either valid or invalid, but to stress how they imply very different views of how the economy works and, by implication, what issues we should focus on. Furthermore, and more controversially, we shall attempt to show how such different views fit with Marx's theory of the determination of value by labour-time and his comments on other theorists’ conceptions of value. To enable the interpretations to be clearly contrasted we shall employ a simple numerical example focusing on the question of accumulation and profitability.

AB - Marginalisation of heterodox economic ideas in economics departments ensures that for these ideas to endure, develop, and hopefully have influence, they must be taken up and understood by a wide range of academics in the larger field of social science. We hope to bring the debate on value theory to a wider audience by attempting to summarise, at least some of the main points of the debate, in less demanding language and through use of a less demanding mathematical technique than is conventionally employed. We shall attempt to simply, but accurately, present the Simultaneous and Dualistic Interpretation of Marx, the New Interpretation of Marx, the Temporal Single System Interpretation (TSSI) of Marx and the Value-Form position. Our purpose is not to suggest that these theories of value are either valid or invalid, but to stress how they imply very different views of how the economy works and, by implication, what issues we should focus on. Furthermore, and more controversially, we shall attempt to show how such different views fit with Marx's theory of the determination of value by labour-time and his comments on other theorists’ conceptions of value. To enable the interpretations to be clearly contrasted we shall employ a simple numerical example focusing on the question of accumulation and profitability.

U2 - https://doi.org/10.1080/03017600902760695

DO - https://doi.org/10.1080/03017600902760695

M3 - Article

VL - 37

SP - 167

EP - 189

JO - Critique

JF - Critique

SN - 0301-7605

IS - 2

ER -