Title: Exploitation and the Labour Theory of Value: a neo-Marxian reply
Abstract: It is argued that the purpose of the Labour Theory of Value is to provide a theory of capitalist exploitation, not a theory of relative prices. As such, the Morishima-type approach to the Steedman critique offers a convincing restatement of the Fundamental Marxian Theorem associating profit with the performance of surplus labour time. By comparison, the Roberts approach involves some strange arithmetic and the importation of a hybrid price/value term which makes it difficult to infer the Fundamental Marxian Theorem.
Publication Year: 1987
Publication Date: 1987-07-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 6
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