Unequal Exchange

Branko Horvat
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Branko Horvat: The Institute for Advanced Studies

Chapter 17 in The Theory of International Trade, 1999, pp 116-122 from Palgrave Macmillan

Abstract: Abstract Most of unequal exchange theorizing is based on Marxian schemes of value formation. Value (w = Wert) is composed of constant (c) and variable (v) capital and of the surplus value (m = Mehrwert) 17.1 w = c + v + m $$w = c + v + m$$ Constant and variable capital are advanced at the beginning of the production period and are completely used in production. In the process of production, workers add to the used means of production (c) new value (v + m). The surplus value (m) is that part of value added which is not appropriated by the workers but by capitalists and so may serve as a measure of exploitation.

Keywords: Advanced Country; Underdeveloped Country; Labour Time; Price Rule; Wage Bill (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-98338-6_17

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DOI: 10.1057/9780333983386_17

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