Is Marx’s Theory of Profit Right?

Nick Potts is professor of economics at Southampton Solent University in the United Kingdom.Andrew Kliman is professor emeritus of economics at Pace University in New York and editor of the Lexington Books series Heterodox Studies in the Critique of Political Economy.

This volume brings together all the major contributions to the recent decade-long controversy over Karl Marx's theory that exploitation of workers is the exclusive source of capitalists' profits. The debate explores different modern interpretations' success in confirming Marx's conclusion.

DedicationContentsEditor¿s NoteAcknowledgementsAbbreviations1. A Sad Story: An Introduction to and Commentary on the Debate, Nick PottsPart I. The Simultaneist-Temporalist Debate2. Simultaneous Valuation vs. the Exploitation Theory of Profit, Andrew Kliman3. On the TSSI and the Exploitation Theory of Profit, Simon Mohun4. Deriving a Negative PNP, Andrew Kliman5. Exploitation, Profits and Time, Roberto Veneziani6. Replicating Marx: A Reply to Mohun, Andrew Kliman and Alan Freeman7. The Incoherence of the TSSI: A reply to Kliman and Freeman, Simon Mohun and Roberto Veneziani8. Simultaneous Valuation vs. the Exploitation Theory of Profit: A Summing Up, Alan Freeman and Andrew Kliman9. The Truthiness of Veneziani¿s Critique of Marx and the TSSI, Andrew Kliman and Alan Freeman10. The Temporal Single-System Interpretation: Underdetermination and Inconsistency, Simon Mohun and Roberto Veneziani11. No Longer a Question of Truth?: The Knell of Scientific Bourgeois Marxian Economics and a Positive Alternative, Alan Freeman and Andrew KlimanPart II. Exchange between Robert Paul Wolff and Proponents of the TSSI12. Once More unto the Breach, Dear Friends, Once More, Robert Paul Wolff13. Physicalism and the Exploitation Theory of Profit are Incompatible: A Response to Robert Paul Wolff, Chris Byron, Alan Freeman, and Andrew Kliman14. Response to Professors Freeman and Kliman and Mr. Byron, Robert Paul Wolff15. Subsequent Dialogue between Kliman and Wolff, Andrew Kliman and Robert Paul WolffBibliographyAbout the Editors