The aim of this paper is to show that Marx supports his theory of surplus value by developing a counterfactual argument, that is, by comparing the 'normal' state of a capitalist economy against a hypothetical state in which no surplus is produced. Marx then divides his analysis of value into...

Sraffa’s unpublished papers have attracted again the attention of different scholars on the relationship between Marx’s and Sraffa’s economic theories. In his notes, as far as the theory of value is concerned, Sraffa states that the «delicate point» is the analysis of the relation...

<title>Abstract</title> This note proposes a short reconstruction of Ferrara's theory of exchange and income distribution as exposed in his <italic>La teoria delle mercedi</italic>, with the aim of putting the different models developed on the basis of Ferrara's interesting example, recently published in the <italic>European Journal...</italic>

<em>Marx in the matrix, ovvero Marx tra il "circuito monetario" e Sraffa. Un commento a Passarella</em> - This paper shows that it is possible to develop Marx’s categories of new value and surplus value in a consistent model of competitive prices such as Sraffa’s model. In particular, Marx’s theory...