Marx without Equilibrium

Alan Freeman ()

MPRA Paper from University Library of Munich, Germany

Abstract: This article presents a ‘sequential and non-dualist’ interpretation of Marx’s value theory. This terminology has since been replaced by the term ‘temporal single system’ (TSSI). In such an interpretation, values transform into prices in accordance with Marx’s two equalities, and the rate of profit falls in accordance with his formulation of the law of the tendency of the rate of profit to fall.

Keywords: Rate of profit; Marxist economics; value theory; Okishio Theorem; TSSI (search for similar items in EconPapers)
JEL-codes: B12 B51 B14 (search for similar items in EconPapers)
Date: 1995-07
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:1207

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