From Value in Production to Value in Exchange: Marxist Political Economy Revisited

Marx’s value theory lies at the heart of his political economy but has been subject to fierce and continuing debates over its substance and validity, not least as capitalism has increasingly developed in more complex and diverse forms. Ranging over the nature of Marx’s theory of value and its application to issues such as commodity fetishism, the transformation problem, falling profitability, interest-bearing capital and financialisation, and the forms taken by rent, this Volume offers essential and original insights from one the world’s leading Marxist political economists. It carefully lays out Marx’s own views as well as critically assessing alternative interpretations.

Ben Fine, Ph.D. (1974), London School of Economics, is Emeritus Professor of Economics at SOAS University of London and Visiting Professor at Wits School of Governance, University of Witwatersrand, South Africa. His most recent books include Material Cultures of Financialisation, co-edited with Kate Bayliss and Mary Robertson (Routledge, 2018); Race, Class and the Post-Apartheid Democratic State, co-edited with John Reynolds and Robert van Niekerk (University of KwaZulu-Natal Press, 2019); and A Guide to the Systems of Provision Approach: Who Gets What, How and Why, with Kate Bayliss (Palgrave, 2021). His Marx’s ‘Capital’ (Pluto, 2016) is now in its sixth edition (with co-author Alfredo Saad-Filho). He was founding Chair of the International Initiative for Promoting Political Economy (iippe.org) until June 2023.