I wish to show that Sinha's (2009) review of Kliman's Reclaiming Marx's 'Capital': A Refutation of the Myth of Inconsistency (2007) is both inaccurate and misleading. Firstly I explain how following the Temporal Single System Interpretation (TSSI) of Marx ensures that Marx's value theory is consistent. I explore an example from Kliman (2007) to illustrate the TSSI's sequential and non-dualistic approach to price and value. Then I turn to Sinha's (2009) criticism of Kliman (2007) in particular and the TSSI in general. I argue that Sinha's criticisms amount to accusing Kliman of not taking the simultaneous and dualistic approach to value most 'Marxist' economists follow, which renders Marx's value theory inconsistent. I find Sinha (2009) to be inaccurate both numerically and in its theoretical understanding of the TSSI. Finally I conclude that it is unscientific to not understand but nonetheless comment on (or worse, seek to misrepresent) a theory that just happens to not be your own approach.
|Publication status||Published - 1 Nov 2012|
|Name||Research and Enterprise Working Paper Series|