Psychology Dictionary of ArgumentsHome
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| Surplus value: A. Surplus value in economics, according to Marxist theory, is the difference between the value produced by labor and the wages paid to workers. It represents the surplus extracted by capitalists from workers, forming the basis of profit and exploitation within capitalist economies.
B.According to Marxist theory, surplus value in economics is the difference between the value produced by labor and the wages paid to workers. It represents the surplus that the capitalists extract from the workers and which forms the basis for profit and exploitation in the capitalist economy._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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David Ricardo on Surplus Value - Dictionary of Arguments
Kurz I 156 Surplus value/Marx/Ricardo/MarxVsRicardo/Sraffa/Kurz: Studying carefully Marx's Capital (and anew the Theories of Surplus Value) at the beginning of the 1940s, Sraffa found that Marx had detected an important error in Ricardo's argument. Marx had approved of Ricardo's new con- ceptualization of real wages as proportional wages (see Marx [1861-63](1) 1989, 226-227, 419) and had translated it into the relation between the value of the social surplus product (S) and that of the social variable capital ( V), or rate of surplus value (S/ V). Accordingly, Ricardo's proposition that the level of the general rate of profits is inversely related to proportional wages is equivalent to the statement that its fall (rise) is conditional on a fall (rise) in the rate of surplus value. Marx (1861-63] 1989(1), 10) had objected to this that Ricardo had erroneously identified the rate of profits with the rate of surplus value: he had been led to this identification because "in his observations on profit and wages, Ricardo . .. treats the matter as though the entire capital were laid out directly in wages." If we take into account nonwage capital - or, more precisely, if we take into account that capital cannot be resolved entirely into direct and indirect wages in a finite number of steps, as Ricardo had been inclined to assume - then his proposition no longer held necessarily true: the rate of profits can fall (or rise) even if proportional wages remain constant. SraffaVsMarx: However, as Sraffa noted, Marx had not always been consistent in his own treatment of wages. Notwithstanding his approval and adoption of Ricardo's concept of proportional wages, Marx - especially in his own working notes on the law of the falling tendency of the rate of profits - had freely moved between this concept and the traditional one of real wages conceived of as an inventory of commodities. >Surplus Value/Sraffa. 1. K. Marx. 1867. The Capital.The Process of Production of Capital. https://www.marxists.org/archive/marx/works/1867-c1/ (21.11.2024) Kurz, Heinz D. „Keynes, Sraffa, and the latter’s “secret skepticism“. In: Kurz, Heinz; Salvadori, Neri 2015. Revisiting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics). London, UK: Routledge._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconRic I David Ricardo On the principles of political economy and taxation Indianapolis 2004 Kurz I Heinz D. Kurz Neri Salvadori Revisiting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics). Routledge. London 2015 |
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