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The Market and Exploitation in Marx's Economic Theory: A Reinterpretation

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  • Lysandrou, Photis

Abstract

Adopting the view that Marx's notion of "commodity" has a wider reach than is usually supposed, and that it is this notion, rather than a "labour theory of value" that is the cornerstone of his economic theory, this paper shows that Marx's account of capitalist exploitation is one that accords equal priority to the production and market domains. Central to this demonstration is an unorthodox explanation as to why Marx posits two alternative rules of prices in Capital. Copyright 2000 by Oxford University Press.

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  • Lysandrou, Photis, 2000. "The Market and Exploitation in Marx's Economic Theory: A Reinterpretation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(3), pages 325-347, May.
    • Handle: RePEc:oup:cambje:v:24:y:2000:i:3:p:325-47
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    Cited by:

    1. Photis Lysandrou, 2016. "The colonization of the future: An alternative view of financialization and its portents," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 39(4), pages 444-472, October.
    2. Photis Lysandrou, 2011. "Global Inequality and the Global Financial Crisis: The New Transmission Mechanism," Chapters, in: Jonathan Michie (ed.), The Handbook of Globalisation, Second Edition, chapter 27, Edward Elgar Publishing.

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