On the cusp of the millenium, Paul Zarembka’s Research in Political Economy published, in the course of two issues in 1999 and 2000, a four-way exchange about approaches to Marx’s theory of value and the rate of profit between David Laibman, Duncan Foley, Andrew Kliman and Alan Freeman. The full exchange can be found in Research in Political Economy 17, 229–33. JAI Press and Research in Political Economy 18, 279–93. JAI Press

This post contains a fair-use copy of our second reply to Foley and Laibman. We welcomed the fact that they had engaged in a serious exchange with TSSI and set forth our evaluation of the state of the debate. We also welcomed Paul Zarembka’s generosity in publishing a second round of the discussion in

Cite  as Freeman, A. and Kliman, A. 2001. ‘Two value Concepts , Two Profit rates, Two Laws of Motion’ in Zarembka, P (ed) Value, Capitalist Dynamics and Money, (Research in Political Economy 18). Volume 18, pages 243-267