Value, Price, and Exploitation: The Logic of the Transformation Problem

Mohun, Simon; Veneziani, Roberto

doi:10.1111/joes.12223

Cited by 26 publications

(8 citation statements)

References 53 publications

(97 reference statements)

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“…The author is aware of contemporary debates concerning Marxist labor theory of value (including among others: Potts and Kliman (2015) simultaneist-temporalist debate compendium, Mohun and Veneziani (2017) axiomatic review and Kliman andMoseley several comments entries (between 2016-2019) available on http:// www.marxisthumanistinitiative.org/ [accessed: 19 August 2022]). In regard, debates are fruitful if they push arguments to demonstrate inner coherence.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Additionally, Shaikh's (1977) treatment on the conversion measure between labor time units and monetary units led to what Foley (1982Foley ( , 1986, Lipietz (1982) and Duménil (1984) developed and named as Monetary Expression of Labor Time (MELT) 4 . The founders of the New Interpretation (Foley, 1982;Lipietz, 1982;Duménil, 1984) and its contemporary exponents (Mohun and Veneziani, 2017;Yoshihara, 2017;Basu, 2021) point out that NI has three differences from previous solutions to the transformation problem. First, the solution is based on the net product and not the gross 3 Exclusively those inquiries from the Marxist labor theory of value.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Surprisingly, the TSSI approach of Carchedi and de Haan (1996) has been excluded from most recent reviews on the transformation problem like Moseley (2016), Mohun and Veneziani (2017) and Basu (2021).…”

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confidence: 99%

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A model of values and prices based on a solution to the transformation problem

Verbeke

2022

IJHE

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This article presents a comprehensive values and prices formation model based on Marx’s (1992, 1993) labor theory of value within a Temporal Single-System Interpretation (TSSI) framework. This model bases on a new interpretation of the Marxian Fundamental Theorem (FMT) and the Monetary Expression of Labor Time (MELT). If the modification in the dialectical sequence of the formation of the categories and the introduction of the dual determination of socially necessary labor time are accepted, the transformation problem encounters solution in the interpretation of Carchedi and de Haan (1996). Likewise, contemporary approaches reveal the need for a redefinition of key categories of the Marxist labor theory of value to develop a logically coherent model. Thus, the proposed model includes the dimension of the realization problem that commodities face in the market and introduce analytical categories for both production and realization periods. Finally, value category is redefined.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Section: Theoretical Frameworkmentioning

confidence: 99%

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A model of values and prices based on a solution to the transformation problem

Verbeke

2022

IJHE

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“…For instance, Glick and Ehrbar (1987), Bellofiore (1989), Mohun (1994), Campbell (1997), Perri (1998), Duménil, Foley and Lévy (2009), Moseley (2016;, Foley and Mohun (2016), Mohun and Veneziani (2017).…”

Section: Measures Of Exploitationmentioning

confidence: 99%

“…Several enthusiastic Marxists seized the opportunity to claim that the labour theory of value is valid as an empirical law. This view has been criticised by Petrovic (1987), Steedman and Tomkins (1998), Kliman (2002;, Dìaz and Osuna (2005-6;, Nitzan and Bichler (2009), Mariolis and Soklis (2010), Vaona (2014), Screpanti (2015), Veneziani (2017). A different use of inputoutput tables is suggested by Cogliano, Flaschel, Franke, Fröhlich and Veneziani (2018), who are sympathetic to the "new interpretation" and read the Leontief's employment multipliers as total labour costs, obviously, "insofar as input-output coefficients can be interpreted as pure quantity magnitudes"(16).…”

Section: Back To the Real Worldmentioning

confidence: 99%

2. Abstract Labour as a Historical Reality

Screpanti¹

2019

Labour and Value

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The sphere of circulation or commodity exchange, within whose boundaries the sale and purchase of labour-power goes on, is in fact a very Eden of the innate rights of man. It is the exclusive realm of Freedom, Equality, Property and Bentham. Freedom, because both buyer and seller of a commodity, let us say, of labour-power, are determined only by their own free will. They contract as free persons, who are equal before the law. Their contract is the final result in which their joint will finds a common legal expression. Equality, because each enters into relation with the other as with a simple owner of commodity, and they exchange equivalent for equivalent. Property, because each disposes only of what is his own. And Bentham, because each looks only to his own advantage […]. And precisely for that reason, either in accordance with the preestablished harmony of things, or under the auspices of the omniscient providence, they all work together to their mutual advantage, for the common weal, and in the common interest. When we leave this sphere of simple circulation or the exchange of commodities, which provides the 'free-trader vulgaris' with his views, his concepts and the standard by which he judges the society of capital and wage-labour, a certain change takes place, or so it appears, in the physiognomy of our dramatis personae. He who was previously the money-owner now strides out in front as a capitalist; the possessor of labour-power follows as his worker. The one smirks self-importantly and is intent on business; the other is timid and holds back, like someone who has brought his own hide to market and now has nothing else to expect but a tanning.

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The New Interpretation: Toward a Critical Development

Rieu

2022

Marx, Engels, and Marxisms

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Value, Price, and Exploitation: The Logic of the Transformation Problem

Cited by 26 publications

References 53 publications

A model of values and prices based on a solution to the transformation problem

A model of values and prices based on a solution to the transformation problem

2. Abstract Labour as a Historical Reality

The New Interpretation: Toward a Critical Development

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