Abstract
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 language | English |
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Number of pages | 27 |
Publication status | Published - Jul 2016 |
Event | Association for Heterodox Economics Annual Conference - University of Glasgow, Glasgow, United Kingdom Duration: 7 Jul 2016 → 9 Jul 2016 Conference number: 18 http://hetecon.net/?page=ahe_conferences&side=conference_archives&sub=conference_2016 |
Conference
Conference | Association for Heterodox Economics Annual Conference |
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Abbreviated title | AHE |
Country/Territory | United Kingdom |
City | Glasgow |
Period | 7/07/16 → 9/07/16 |
Internet address |