IDEAS home Printed from https://ideas.repec.org/a/sae/reorpe/v53y2021i3p525-534.html
   My bibliography  Save this article

Response to Moseley

Author

Listed:
  • Robin Eric Hahnel

Abstract

In “A Marxian reply to Hahnel: The relative explanatory power of Marx’s theory and Sraffa’s theory,†Moseley begins by arguing that I misrepresent Marx. For any like myself, who believe that because we now have linear algebra, and the theorems of Frobenius and Perron to take advantage of, we are able to elaborate a better formal framework for understanding prices and income distribution in capitalism than was available during Marx’s time, the past fifty years has become a game of whack-a-mole: whenever anyone rebuts one particular defense of using a labor theory of value framework, a different variation rises in its place. JEL Classification: B24, B51

Suggested Citation

  • Robin Eric Hahnel, 2021. "Response to Moseley," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 525-534, September.
    • Handle: RePEc:sae:reorpe:v:53:y:2021:i:3:p:525-534
    DOI: 10.1177/04866134211003340
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/04866134211003340
    Download Restriction: no
    File URL: https://libkey.io/10.1177/04866134211003340?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. Duncan K. Foley, 2000. "Recent Developments in the Labor Theory of Value," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(1), pages 1-39, March.
    2. Shaikh, Anwar, 1980. "Marxian Competition versus Perfect Competition: Further Comments on the So-Called Choice of Technique," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 4(1), pages 75-83, March.
    3. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, February.
    4. Mohun, Simon, 1994. "A Re(in)statement of the Labour Theory of Value," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 18(4), pages 391-412, August.
    5. Roemer, John E, 1979. "Continuing Controversy on the Falling Rate of Profit: Fixed Capital and Other Issues," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 3(4), pages 379-398, December.
    6. 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.
    7. Shaikh, Anwar, 1978. "Political Economy and Capitalism: Notes on Dobb's Theory of Crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 2(2), pages 233-251, June.
    8. Fred Moseley, 2021. "A Marxian Reply to Hahnel: The Relative Explanatory Power of Marx’s Theory and Sraffa’s Theory," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 511-524, September.
    9. Robin Hahnel, 2020. "Economic Justice: Confronting Dilemmas," Journal of Economic Issues, Taylor & Francis Journals, vol. 54(1), pages 19-37, January.
    Full references (including those not matched with items on IDEAS)

    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. 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.
    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, 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.
    4. Naoki Yoshihara & Roberto Veneziani, 2013. "The Measurement of Labour Content: A General Approach," Working Papers 704, Queen Mary University of London, School of Economics and Finance.
    5. Junshang Liang, 2021. "The Falling Rate of Profit under Constant Rate of Exploitation: A Generalization," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 501-510, September.
    6. Ernesto Screpanti, 2015. "The Demise of Marx’s Labour Theory of Value and the ‘New Interpretation’: A Recap Note," Department of Economics University of Siena 708, Department of Economics, University of Siena.
    7. 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.
    8. 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.
    9. Fred Moseley, 2021. "A Marxian Reply to Hahnel: The Relative Explanatory Power of Marx’s Theory and Sraffa’s Theory," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 511-524, September.
    10. M Webber & D Rigby, 1999. "Accumulation and the Rate of Profit: Regulating the Macroeconomy," Environment and Planning A, , vol. 31(1), pages 141-164, January.
    11. Claudio Sardoni, 2011. "Unemployment, Recession and Effective Demand," Books, Edward Elgar Publishing, number 13837.
    12. Jonathan F Cogliano & Roberto Veneziani & Naoki Yoshihara, 2024. "The dynamics of international exploitation," Environment and Planning A, , vol. 56(5), pages 1420-1446, August.
    13. 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.
    14. Massimo Cingolani, 2015. "Sylos Labini su Marx: implicazioni per la politica economica (Sylos Labini on Marx: economic policy implications)," Moneta e Credito, Economia civile, vol. 68(269), pages 81-147.
    15. 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.
    16. 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.
    17. 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.
    18. 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.
    19. Mariolis, Theodore, 2010. "Κριτική Έκθεση του "Νόμου της Πτωτικής Τάσης του Ποσοστού Κέρδους" του K. Marx: Κατανομή Εισοδήματος, Επισώρευση Κεφαλαίου και Τεχνολογική Μεταβολή στη Μακρά Περίοδο [Critical Exposition ," MPRA Paper 22461, University Library of Munich, Germany.
    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

    Keywords

    Sraffa; Marxist economics; theory of value;
    All these keywords.

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

    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:sae:reorpe:v:53:y:2021:i:3:p:525-534. 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: SAGE Publications (email available below). General contact details of provider: http://www.urpe.org/ .

    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.