Marx without Equilibrium

This article, published in Capital and Class 56, was the first peer-reviewed presentation of what at the time was termed the ‘sequential and non-dualist’ interpretation of Marx’s value theory. This terminology, following Kliman, was replaced by the term ‘Temporal Single System’ and, as Kliman points out, constitutes an interpretation of Marx. In such an interpretation, values transform into prices in accordance with Marx’s two equalities, and the rate of profit falls in accordance with his formulation of the law of the tendency of the rate of profit to fall.

It can be cited as: Freeman, A. (1995a) ‘Marx without Equilibrium’, Capital and Class 56, Summer 1995. pp49-81 ISSN 0309 8168