DISCUSSION PAPER SERIES SERIES DP 2023-1

DISCUSSION PAPER SERIES

DP 2023 – 1

ISSN: 2654-0738

Differential Rent, Market Values, “False Social Value” and Marxian Reproduction Schemes: A Re-examination

George Economakis

University of Patras

Abstract

In this paper are examined some aspects of the economic relations between agriculture and industry, under capitalism, which derive from Marx’s labour theory of value. The focal points of this rereading are the theory of differential rent, the theory of formation of market values in agriculture and industry and the Marxian reproduction schemes. This analysis rather justifies Ricardo’s theoretical view regarding the fact that the spontaneous laws of capitalist economy lead to an extraction of an extra value from the industrial sector in favour of the agricultural sector. This is a relation of unequal exchange between the industrial and the agricultural sector which consists of what Marx has called ‘false social value’.

Keywords: Labour Theory of Value; Differential Rent; Market Values; Marxian Reproduction Schemes; Industrial and Agricultural Sector; Conditions of Unimpeded Simple and Enlarged Reproduction; ‘False Social Value’

JEL classification: B12, B14, Β24, O13, O14

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