In a recent article in this journal, Kliman (2001) has argued that only a temporal single system interpretation (TSSI) of Marxian value theory preserves the fundamental Marxian theorem (FMT) and hence finds the origin of profit solely in exploitation. This paper first outlines the TSSI in order to emphasise the particular and controversial definition of value on which it depends. Kliman's logical demonstration of the FMT is then shown to fail on exactly the same grounds for which he indicts rival interpretations.
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References
1.
Kliman, Andrew J. (2001), ‘Simultaneous Valuation vs. the Exploitation Theory of Profit’, Capital & Class73:97–112.
2.
Kliman, Andrew J. & Ted McGlone (1999), ‘A Temporal Single-System Interpretation of Marx's Value Theory’, Review of Political Economy, 11(1): 33–59.
3.
Marx, Karl (1976), Capital. Volume 1. Harmondsworth: Penguin.
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Mongiovi, Gary (2002), ‘Vulgar Economy in Marxian Garb: a Critique of Temporal Single System Marxism’, Review of Radical Political Economics34:393–416.
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Veneziani, Roberto (2003), ‘The Temporal Single-System Interpretation of Marx's Economics: A Critical Evaluation’, Mimeo. Forthcoming in Metroeconomica.
