Turnover Time and Marx’s Decomposition of Profit Adjustment in the Process of Equalization, by Guido De Marco
Abstract The welcomed introduction of Fred Moseley to a 27-page excerpt from Marx’s Economic Manuscript of 1867-1868 draws attention to the influence of turnover times on the formation of prices of production. I discuss the profit-adjustment decomposition outlined by Marx in these pages where he tries to distinguish the influences of turnover time and capital […]