The Marxian labour theory of value considers labour as the only substance of value. The generalized commodity exploitation theorem (GCET) purports to demonstrate that many other commodities can be substances of value. This note argues that the GCET is based on two conceptual aws: (a) failure to...

Attempts to use commodities to construct theories of value and use such value theory to claim that, in capitalism, commodities can be exploited, just like labour is, rest on two conceptual aws: (a) failure to distinguish between labour and labour-power; and (b) failure to distinguish...

In this paper we review recent developments in axiomatic studies of Marxian exploitation theory. First, given the acute controversy over the formal definition of exploitation during the 1970-1990s, we review the study of the axiomatic framework, which identifies some fundamental properties -...

In this paper we review recent developments in axiomatic studies of Marxian exploitation theory. First, given the acute controversy over the formal definition of exploitation during the 1970-1990s, we review the study of the axiomatic framework, which identifies some fundamental properties -...