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A Mathematical Approach to Marxian Value TheoryFalling Rate of Profit: Falsifiable or not?

A Mathematical Approach to Marxian Value Theory: Falling Rate of Profit: Falsifiable or not? [This chapter critically evaluates the interpretation of the tendency of the rate of profit to fall (TRPF) put forth by Alfredo Saad-Filho along the lines of Ben Fine’s understanding of Marx’s Capital. Although their specific interpretation of the organic composition of capital sheds new light on related issues, the interpretation has serious limitations. The most serious defect in Saad-Filho’s interpretation is that it made the Marxian value theory and related issues, such as the TRPF, unfalsifiable claims in the sense that every downward or upward movement in the rate of profit could neither verify nor disprove the TRPF. It runs the risk of making the Marxian value theory a degenerating research program in the Lakatosian sense by adhering to highly abstract methodological discussions.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Mathematical Approach to Marxian Value TheoryFalling Rate of Profit: Falsifiable or not?

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022
ISBN
978-3-031-07807-1
Pages
143 –151
DOI
10.1007/978-3-031-07808-8_7
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter critically evaluates the interpretation of the tendency of the rate of profit to fall (TRPF) put forth by Alfredo Saad-Filho along the lines of Ben Fine’s understanding of Marx’s Capital. Although their specific interpretation of the organic composition of capital sheds new light on related issues, the interpretation has serious limitations. The most serious defect in Saad-Filho’s interpretation is that it made the Marxian value theory and related issues, such as the TRPF, unfalsifiable claims in the sense that every downward or upward movement in the rate of profit could neither verify nor disprove the TRPF. It runs the risk of making the Marxian value theory a degenerating research program in the Lakatosian sense by adhering to highly abstract methodological discussions.]

Published: Jul 21, 2022

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