Abstract In this paper we analyze, from the TSS perspective, the effects of price changes on the profit rate of a given industrial capital. Firstly, we argue that the analysis of the effects of prices change must be done utilizing the concept of the circuit of industrial capital. Secondly, we show that from the standpoint …
Originally published in With Sober Senses on February 9, 2018. Republished with permission of Marxist-Humanist Initiative. Andrew Kliman responds to a plagiarized “critique” of the TSSI and Marx’s value theory that has been circulating on the internet. “Caveat Non Emptor!” by Andrew Kliman An online “critique” of the temporal single-system interpretation (TSSI) of Marx’s value …
This paper, published in 2016, provides a prophetic background to the February 2018 stock-market shock using a value-theoretic analysis of the role of financial markets in today’s capitalist economy. It is a prepublication version of the paper that appeared in Marxism 21, Vol 20, issue 2, pp 190-206, and should be cited as such. Abstract …
This is a prepublication version of the article by the same name in the Journal of Australian Political Economy. It should be cited as “Freeman, A. 2012 ‘The Profit Rate in the Presence of Financial Markets: a Necessary Correction’. Journal of Australian Political Economy, Number 70, Summer 2012, pp 167-192.” In the past two decades …
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 …
This essay seeks to draw lessons from Karl Marx’s writings and practice that can help combat Trumpism and other expressions of white nationalism. The foremost lesson is that fighting white nationalism in the tradition of Marx entails the perspective of solidarizing with the “white working class” by decisively defeating Trumpism and other far-right forces. Their …
This review of Hahnel’s book exposes errors in his attempt to explain the existence of profit in physicalist terms (i.e.. without value theory), as well as errors in his effort to consign Marx’s falling-rate-of-profit theory to the “dust bin of history.” Download