Production versus Capital in Motion: A Reply to Fine and Saad-Filho

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In this Subject: Philosophy ,&nbsp; Political Science
By this author: Kincaid, Jim

Author: Kincaid, Jim

Source: Historical Materialism, Volume 16, Number 4, 2008 , pp. 181-203(23)

Publisher: BRILL

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Abstract:

A further critique of Fine and Saad-Filho's reading of Marxist political economy: (a) it neglects the monetary dimension of Marx's analysis; (b) it focuses too much on production, and on the organic composition of capital, treated in isolation from the overall circuit of capital. An alternative theorisation is proposed, stressing what will now be called emergence patterns in Marx's value theory (his term was laws of tendency), and giving due weight to circulation, realisation, competition and capital allocation.

Keywords: MARXIST POLITICAL ECONOMY; BEN FINE; ALFREDO SAAD-FILHO; VALUE; EMERGENCE; SURPLUS-VALUE; MONEY; RATE OF PROFIT; COMPOSITION OF CAPITAL; CIRCUIT OF CAPITAL; REALISATION; CAPITAL ALLOCATION