IDEAS home Printed from https://ideas.repec.org/a/bla/metroe/v59y2008i4p557-573.html
   My bibliography  Save this article

Estimating Sectoral Rates Of Surplus Value: Methodological Issues

Author

Listed:
  • Dong‐Min Rieu

Abstract

The ‘New Interpretation’ (NI) argues that Marxian value categories can be measured using price variables through the concept of monetary expression of labour time (MELT). Starting from the central insight of the NI, this paper focuses on the estimation of sectoral rates of surplus value. It will be suggested that the MELT is decomposed into two concepts, ‘value expression of labour time’ and ‘monetary expression of value’. As a result of this theoretically general consideration, the NI will be critically examined.

Suggested Citation

  • Dong‐Min Rieu, 2008. "Estimating Sectoral Rates Of Surplus Value: Methodological Issues," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 557-573, November.
    • Handle: RePEc:bla:metroe:v:59:y:2008:i:4:p:557-573
    DOI: 10.1111/j.1467-999X.2008.00322.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1467-999X.2008.00322.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1467-999X.2008.00322.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bowles, Samuel & Gintis, Herbert, 1988. "Contested Exchange: Political Economy and Modern Economic Theory," American Economic Review, American Economic Association, vol. 78(2), pages 145-150, May.
    2. Bowles, Samuel, 1985. "The Production Process in a Competitive Economy: Walrasian, Neo-Hobbesian, and Marxian Models," American Economic Review, American Economic Association, vol. 75(1), pages 16-36, March.
    3. Glick, Mark & Ehrbar, Hans G, 1987. "The Transformation Problem: An Obituary," Australian Economic Papers, Wiley Blackwell, vol. 26(49), pages 294-317, December.
    4. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, February.
    5. Kliman, Andrew & Freeman, Alan, 2006. "Replicating Marx: a Reply to Mohun," MPRA Paper 6890, University Library of Munich, Germany.
    6. Gouverneur, Jacques, 1990. "Productive Labour, Price/Value Ratio and Rate of Surplus Value: Theoretical Viewpoints and Empirical Evidence," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(1), pages 1-27, March.
    7. Duncan K. Foley, 1982. "The Value of Money the Value of Labor Power and the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 37-47, June.
    8. Makoto Itoh, 2005. "The New Interpretation and the Value of Money," Palgrave Macmillan Books, in: Fred Moseley (ed.), Marx’s Theory of Money, chapter 11, pages 177-191, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hiroshi Onishi, 2015. "Non-Western Marxist Traditions in Northeast Asia," Keio-IES Discussion Paper Series 2015-001, Institute for Economics Studies, Keio University.
    2. Jonathan F Cogliano, 2023. "Marx’s equalised rate of exploitation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 47(1), pages 133-169.
    3. Jonathan F. Cogliano, 2011. "Smith’s “Perfect Liberty” and Marx’s Equalized Rate of Surplus-Value," Working Papers 1108, New School for Social Research, Department of Economics.
    4. Hyun Woong Park & Dong-Min Rieu, 2020. "A Mathematical Formulation of the Dual Nature of Unproductive Labor," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(4), pages 716-738, December.
    5. Andrea Ricci, 2016. "Unequal Exchange in International Trade:A General Model," Working Papers 1605, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2016.
    6. Andrea Ricci, 2016. "Metamorphoses of Value.The Concept of a Commodity in Marx’s Capital," Working Papers 1609, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2016.
    7. Cavalieri, Duccio, 2013. "A theory of capital as value in progress," MPRA Paper 47197, University Library of Munich, Germany.
    8. Dong–Min Rieu & Hyun Woong Park, 2018. "Unproductive Activities and the Rate of Surplus Value at the Industry Level in Korea, 1995–2015," UMASS Amherst Economics Working Papers 2018-07, University of Massachusetts Amherst, Department of Economics.
    9. Ferran Sancho, 2023. "The surplus-value rate and the structure of the tax system," UFAE and IAE Working Papers 969.23, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Freeman, Alan, 2010. "Trends in Value Theory since 1881," MPRA Paper 48646, University Library of Munich, Germany, revised 04 Jan 2011.
    2. Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
    3. Gabriel V. Montes‐Rojas, 2023. "A typology of Marxian transformation procedures with endogenous exploitation rate," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 119-137, February.
    4. Gary A. Dymski, 1990. "Money and Credit in Radical Political Economy: A Survey of Contemporary Perspectives," Review of Radical Political Economics, Union for Radical Political Economics, vol. 22(2-3), pages 38-65, June.
    5. Freeman, Alan, 1996. "The Psychopathology of Walrasian Marxism," MPRA Paper 1539, University Library of Munich, Germany.
    6. Jonathan F Cogliano & Roberto Veneziani & Naoki Yoshihara, 2024. "The dynamics of international exploitation," Environment and Planning A, , vol. 56(5), pages 1420-1446, August.
    7. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    8. Veneziani, Roberto & Yoshihara, Naoki, 2014. "One million miles to go: taking the axiomatic road to defining exploitation," UMASS Amherst Economics Working Papers 2014-10, University of Massachusetts Amherst, Department of Economics.
    9. Jayadev, Arjun & Bowles, Samuel, 2006. "Guard labor," Journal of Development Economics, Elsevier, vol. 79(2), pages 328-348, April.
    10. Burdin, Gabriel & Dughera, Stefano & Landini, Fabio & Belloc, Filippo, 2023. "Contested Transparency: Digital Monitoring Technologies and Worker Voice," GLO Discussion Paper Series 1340, Global Labor Organization (GLO).
    11. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2016. "The Dynamics of Exploitation and Class in Accumulation Economies," Metroeconomica, Wiley Blackwell, vol. 67(2), pages 242-290, May.
    12. Jonathan F. Cogliano, 2017. "Surplus Value Production and Realization in Marxian Theory - Applications to the U.S., 1987-2015," Working Paper Series 2017-01, Dickinson College, Department of Economics.
    13. Roberto Veneziani & Luca Zamparelli & Simon Mohun & Roberto Veneziani, 2017. "Value, Price, And Exploitation: The Logic Of The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1387-1420, December.
    14. Yoshihara, Naoki & Veneziani, Roberto, 2013. "The Measurement of Labour Content: A General Approach," Discussion Paper Series 587, Institute of Economic Research, Hitotsubashi University.
    15. Lefteris Tsoulfidis & Dimitris Paitaridis, 2017. "Monetary Expressions of Labour Time and Market Prices: Theory and Evidence from China, Japan and Korea," Review of Political Economy, Taylor & Francis Journals, vol. 29(1), pages 111-132, January.
    16. Jonathan F Cogliano, 2023. "Marx’s equalised rate of exploitation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 47(1), pages 133-169.
    17. Andrea Ricci, 2016. "Unequal Exchange in International Trade:A General Model," Working Papers 1605, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2016.
    18. Robin Eric Hahnel, 2021. "Response to Moseley," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 525-534, September.
    19. Fred Moseley, 2000. "The "New Solution" to the Transformation Problem: A Sympathetic Critique," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(2), pages 282-316, June.
    20. Roberto Veneziani & Naoki Yoshihara, 2011. "Strong Subjectivism In The Marxian Theory Of Exploitation: A Critique," Metroeconomica, Wiley Blackwell, vol. 62(1), pages 53-68, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:metroe:v:59:y:2008:i:4:p:557-573. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0026-1386 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.