Capital y ganancia

Anwar Shaikh ()

El Trimestre Económico, 2020, vol. 87 (1), issue 345, 205-246

Abstract: After mentioning Marx’s explanation of capitalist benefits, Steuart’s distinction between “production benefits” and “profits of alienation” is retaken. If the price system coincides with the value system, these benefits disappear (circulation is neutral), which Marx assumes, and which allows him to concentrate on the essentials of surplus value: that is unpaid work. In the essay the consequences of abandoning this assumption are examined, the “transformation problem” is pointed out, some Sraffa examples and hypotheses are retaken, and through a simple matrix presentation some relevant consequences are analyzed; for example, that aggregate monetary gains differ from total surplus value. It also refers to the profits of financial capital (interest and capital gains) and, in an introductory manner, the importance of the phenomenon is mentioned to explain the prices and monopoly profits, a core feature of contemporary capitalism.

Keywords: Capital; Marx; production benefits; profits of alientation; surplus value; aggregate profit; production. (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:elt:journl:v:87:y:2020:i:345:p:205-246

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DOI: 10.20430/ete.v87i345.1034

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