Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277231 
Authors: 
Year of Publication: 
2012
Citation: 
[Journal:] Intervention. European Journal of Economics and Economic Policies [ISSN:] 2195-3376 [Volume:] 09 [Issue:] 1 [Year:] 2012 [Pages:] 23-34
Publisher: 
Metropolis-Verlag, Marburg
Abstract: 
The causal structure of capitalistic commodity production can be revealed by notionally separating total output into two categories: 'necessaries' bought by employees, and the rest constituting society's surplus. The rate of profit is determined in the wage good industry and becomes the system?s key variable. In association with demand for 'luxuries' it governs the respective amount of profit accruing to the two sectors as well as the corresponding employment. The consequences for economic policy contradict predominant recipes.
Subjects: 
effective demand
employment
income shares
labour theory of value
rate of exploitation
rate of profit
rate of surplus value
JEL: 
A10
B12
E10
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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