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 languageEnglish
PublisherThe International Working Group on Value Theory
Number of pages27
ISBN (Electronic)1940-3062
Publication statusPublished - 8 Nov 2017

Fingerprint

Experiment
Labor
Retailing
Karl Marx
Wholesale prices
Exploitation
Value theory
Technological change
Surplus value
Commodities
Profit
Retail prices
Workers

Cite this

Potts, N. (2017). TSSI Experiments in Circulation. The International Working Group on Value Theory.
Potts, Nicholas. / TSSI Experiments in Circulation. The International Working Group on Value Theory, 2017.
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Potts N. TSSI Experiments in Circulation. The International Working Group on Value Theory. 2017 Nov 8.