TSSI Experiments in Circulation

Nicholas Potts

    Research output: Published contribution to conferencePaperpeer-review


    My paper seeks to explore Marx’s value theory following a Temporal Single System Interpretation (TSSI) of Marx’s determination of commodities’ values by labour-time. I explore how trying to consistently follow Marx’s definition of productive and unproductive labour affects our understanding of circulation/retailing. I model, trying to follow the TSSI of Marx, retailing sequentially occurring alongside production. Firstly I contrast how following Marx allows us to account for all the surplus-value extracted from labour, whereas seeing value as a market phenomenon cuts any link between exploitation of workers and profit. Then I explore how my model is affected in turn by a change to wholesale price, a change to retail price, and lastly a state of growth/technological change. Finally, I conclude.
    Original languageEnglish
    Number of pages27
    Publication statusPublished - Jul 2016
    EventAssociation for Heterodox Economics Annual Conference - University of Glasgow, Glasgow, United Kingdom
    Duration: 7 Jul 20169 Jul 2016
    Conference number: 18


    ConferenceAssociation for Heterodox Economics Annual Conference
    Abbreviated titleAHE
    Country/TerritoryUnited Kingdom
    Internet address


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