From value and profit to crisis and back

Because we ever study marxist economic theory enough, we propose text following from Michael Roberts.

Michael Roberts Blog

I’ve just attended a one-day workshop on the rate of profit and crisis organised by Simon Mohun, Al Campbell and other Marxist economists as a prequel to the annual IIPPE conference taking place in Leeds over the next few days.  And an excellent initiative it was too.

Simon Mohun, emeritus professor of economics at Queen Mary College, London, opened the first session with a presentation on Marx’s value theory and its relation to the capitalist accumulation process and Marx’s law of the tendency of the rate of profit to fall.  Mohun started by making the key point that values equal prices in the aggregate.  This is the ‘conservation principle’ that labour value equals prices in the whole economy, although at the level of individual commodities, price can vary from value.  Indeed, the value of labour power (the socially necessary labour time taken to produce the commodities that workers consume in…

View original post 1 572 autres mots


Laisser un commentaire

Pour oublier votre commentaire, ouvrez une session par l’un des moyens suivants :


Vous commentez à l’aide de votre compte Déconnexion /  Changer )

Photo Google+

Vous commentez à l’aide de votre compte Google+. Déconnexion /  Changer )

Image Twitter

Vous commentez à l’aide de votre compte Twitter. Déconnexion /  Changer )

Photo Facebook

Vous commentez à l’aide de votre compte Facebook. Déconnexion /  Changer )


Connexion à %s