Guglielmo Carchedi's 'art of fudging' explained to the people

Ernesto Screpanti

Review of Political Economy, 2005, vol. 17, issue 1, 115-126

Abstract: In this note, I present a criticism of Guglielmo Carchedi's synthesis of the Temporal Single System (TSS) approach to value theory. My main criticisms are as follows. First, Carchedi adopts an essentialist, and indeed rather mystical, interpretation of Marx's value theory; second, his notion of 'labour-value' turns out to be just a redefinition of 'price', which has nothing to do with the labour embodied; third, his transformation procedure is inconsistent with the reproduction conditions that Carchedi himself assumes.

Date: 2005
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DOI: 10.1080/095382504200031843

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