This collection focuses on a long-running debate over the logical validity of Karl Marx's theory that exploitation is the exclusive source of capitalists' profits. The "Fundamental Marxian Theorem" was long thought to have shown that orthodox Marxian economics succeeds in replicating Marx's conclusion. The debate begins with Andrew Kliman's disproof of that claim. On one side of the debate, representing orthodox Marxian economics, are contributions by Simon Mohun and Roberto Veneziani. Although they concede that their simultaneist models cannot replicate Marx's theory of profit in all cases, they insist that this is as good as it gets. On the other side, representing the temporal single-system interpretation of Marx's theory (TSSI), are contributions by Kliman and Alan Freeman. They argue that his theory is logically valid, since it can indeed be replicated when it is understood in accordance with the TSSI. While the debate initially focused on logical concerns, issues of pluralism, truth, and scientificity increasingly assumed center stage. In his introduction to the volume, Nick Potts situates the debate in its historical context and argues forcefully that the arguments of the orthodox Marxist economists, and the manner in which those arguments were couched, were "suppressive and contrary to scientific norms." The volume concludes with a 2014 debate, in which many of the same issues re-surfaced, between the philosopher Robert Paul Wolff and proponents of the TSSI.
Dedication Contents Editor's Note Acknowledgements Abbreviations 1. A Sad Story: An Introduction to and Commentary on the Debate, Nick Potts Part I. The Simultaneist-Temporalist Debate 2. Simultaneous Valuation vs. the Exploitation Theory of Profit, Andrew Kliman 3. On the TSSI and the Exploitation Theory of Profit, Simon Mohun 4. Deriving a Negative PNP, Andrew Kliman 5. Exploitation, Profits and Time, Roberto Veneziani 6. Replicating Marx: A Reply to Mohun, Andrew Kliman and Alan Freeman 7. The Incoherence of the TSSI: A reply to Kliman and Freeman, Simon Mohun and Roberto Veneziani 8. Simultaneous Valuation vs. the Exploitation Theory of Profit: A Summing Up, Alan Freeman and Andrew Kliman 9. The Truthiness of Veneziani's Critique of Marx and the TSSI, Andrew Kliman and Alan Freeman 10. The Temporal Single-System Interpretation: Underdetermination and Inconsistency, Simon Mohun and Roberto Veneziani 11. No Longer a Question of Truth?: The Knell of Scientific Bourgeois Marxian Economics and a Positive Alternative, Alan Freeman and Andrew Kliman Part II. Exchange between Robert Paul Wolff and Proponents of the TSSI 12. Once More unto the Breach, Dear Friends, Once More, Robert Paul Wolff 13. Physicalism and the Exploitation Theory of Profit are Incompatible: A Response to Robert Paul Wolff, Chris Byron, Alan Freeman, and Andrew Kliman 14. Response to Professors Freeman and Kliman and Mr. Byron, Robert Paul Wolff 15. Subsequent Dialogue between Kliman and Wolff, Andrew Kliman and Robert Paul Wolff Bibliography About the Editors
