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The surplus-value rate and the structure of the tax system

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  • Ferran Sancho

Abstract

We explore the relationship between the tax system and the surplus-value rate. Since government policy directly conditions the economic environment, any variations in the tax rates will affect disposable income. This, in turn, translates to consumption adjustments that give rise to changes in the surplus-value rate. For the evaluation of changes from the baseline figure, we argue that the correct data set needs to be more comprehensive than the input-output and national accounts data. The reason is that they do not include, in a coherent and integrated manner, all the tax flows taking place in the economy. A Social Accounting Matrix (SAM), however, does include all the tax flows affecting households (indirect taxes on consumption, direct taxes on income, and personal labour taxes). Therefore, the SAM provides the basis for counter-factual calculations of the surplus-value rate that a standard input-output table, for example, cannot provide. We illustrate the possibilities of the analysis using a recent SAM of Spain.

Suggested Citation

  • 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).
    • Handle: RePEc:aub:autbar:969.23
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    2. M. Alejandro Cardenete & M. Carmen Lima & Ferran Sancho, 2017. "Validating Policy‐Induced Economic Change Using Sequential General Equilibrium SAMs," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 36(3), pages 291-304, April.
    3. Wolff, Edward N, 1975. "The Rate of Surplus Value in Puerto Rico," Journal of Political Economy, University of Chicago Press, vol. 83(5), pages 935-949, October.
    4. Dong‐Min Rieu, 2008. "Estimating Sectoral Rates Of Surplus Value: Methodological Issues," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 557-573, November.
    5. Erik K. Olsen, 2011. "Modeling the Economic Surplus in a SAM Framework," American Journal of Economics and Sociology, Wiley Blackwell, vol. 70(5), pages 1175-1207, November.
    6. Antonio Freitas, 2021. "The Rate of Surplus Value in Brazil, 1996–2016," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 398-422, September.
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    More about this item

    Keywords

    Surplus-value rate; Social Accounting Matrix; Taxation and consumption; Policy indicators.;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • H22 - Public Economics - - Taxation, Subsidies, and Revenue - - - Incidence

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