Fred Moseley — Comments on Milankovic on Marx

Clarification of Marx's labor theory of value that equates profit with surplus value.

Econospeak
Comments on Milankovic on Marx

Fred Moseley | Professor of Economics, Mount Holyoke College

See also

I would encourage all of you to read Fred Moseley’s case for the labor theory of value and the problems he has with Branko Milanovic’s interpretation of it. This may seem like an exercise in Marxist antiquarianism, but the underlying questions are important....

As both Marx and Proudhon [to whom Marx was reacting] would have understood, the theory of profit-making is at the core of figuring out how capitalism works and envisioning pathways beyond it.

Econospeak
It's Red Friday and Time to Discuss the Role of Exploitation in Profit
Peter Dorman | Professor of Political Economy, The Evergreen State College