Marx in the matrix, ovvero Marx tra il "circuito monetario" e Sraffa. Un commento a Passarella

Abstract

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 is interpreted according Price of Net Product-Unallocated Purchasing Power Labour Theory of Value (PNN-UPN LVT) proposed by Duncan Foley and Gerard Dumenil. In this framework Marx’s value theory does not lead to inconsistent results. The meaning of this theory, however, cannot rely only on considerations about formal characteristics of model. From one hand, some aspects of this meaning can ensue, from a comparison with theory of the monetary circuit, because of role that PNN-UPN LTV attributes to money and to ‘the monetary expression of labor time’ and of role played by monetary wages in circuit. From other hand, it is important a comparison with path Sraffa followed in developing his model of prices. In particular it is relevant Sraffa’s choice of units of measure of labor and prices in consequence of ‘transformation’ of wage rate from a determined basket of commodity to a share of net product. It is possible to suggest a line of research aiming at integrating Sraffa’s model of prices and theory of monetary circuit via Marx, or interpretation of Marx’s theory put forward by Duncan Foley and Gerard Dumenil.