Welcome to the website of the International Working Group on Value Theory (IWGVT). It contains all materials of the group and is updated regularly. In addition, it contains the archives of the founding materials of the IWGVT consisting of the 1995 to 2004 conference papers, the IWGVT Scholarship Guidelines and Volume 1 of our journal, Critique of Political Economy (COPE).

Henryk Grossmann’s Breakdown Model: On the Real Cause of the Fictitious Breakdown Tendency

By Andrew Kliman Published in With Sober Senses, Oct. 7, 2021 at https://www.marxisthumanistinitiative.org/economics/henryk-grossmanns-breakdown-model-on-the-real-cause-of-the-fictitious-breakdown-tendency.html, together with interactive spreadsheet file. There is much about Henryk Grossmann’s 1929 book on capitalist accumulation, breakdown, and crisis (Grossmann 1992) that I appreciate and [...]

Dialogue with Patrick Murray on the Value-Form Paradigm, Part 1

MHI · Dialogue with Patrick Murray on the Value-Form Paradigm, Part 1 — Ep. 25 Brendan and Andrew welcome Patrick Murray, the noted value-form theorist, onto the podcast. (The value-form paradigm is a Marx-inspired strand of political economy that focuses on the market.) Patrick responds to the recent, two-episode RFH discussion––“The Value-Form Paradigm vs. Marx’s […]

Episode 18: The Value-Form Paradigm vs. Marx’s “Capital,” Part 2

The second half of a two-part interview on the “value-form paradigm”—a Marx-inspired and market-focused strand of political economy. Some years ago, the noted value-form theorist Patrick Murray responded to criticisms of the paradigm, leveled by Andrew and others in a published symposium. In this episode––guided by Brendan’s questioning, and for the first time anywhere––Andrew continues […]

Episode 17: The Value-Form Paradigm vs. Marx’s “Capital,” Part 1

Some years ago, Andrew participated in a published symposium on the “value-form paradigm”—a Marx-inspired and market-focused strand of political economy. Andrew and others criticized the value-form paradigm, and the noted value-form theorist Patrick Murray responded to them. In this episode (and a future one), Andrew replies to Murray’s paper—for the first time anywhere. He and […]

The inconvenient problem of exchange consistency: Why Moseley’s price interpretation of Marx is not a monetary Interpretation, By Alan Freeman

Abstract These comments on Fred Moseley’s book Money and Totality: A Macro-Monetary Interpretation of Marx’s Logic in Capital and the End of the ‘Transformation Problem’ address the fundamental issue of exchange consistency: when are things bought, when are they sold, and when are their prices established? This simple question defines the difference between two paradigms [...]

Introduction by Alan Freeman to the English-Language Version of Michel Husson’s ‘Value and Price: a Critique of Neo-Ricardian Claims’

Abstract This landmark article was first published in French in 1980 as Manuel Pérez, “Valeur et prix : un essai de critique des propositions néo-ricardiennes” in Critiques de l’économie politique (nouvelle série) n°10, Janvier-Mars 1980, which may be accessed at http://hussonet.free.fr/perez.pdf and was one of the earliest statements of what has become the TSS [...]

Marx’s Temporalism and Value Revolutions (in Spanish), by Alejandro Ramos Martinez

Abstract This article explores some aspects of Marx’s method for calculating the value of commodities in simple dynamic situations. His method is considered «temporalist» because it pays careful attention to the temporal sequence in which social labor-time is spent in the production sphere. This contrasts with the interpretation of Marx’s calculation proposed by Bródy, Morishima […]

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