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Surplus Value and the Allocation of Social Labor
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논문 기본 정보

Type
Academic journal
Author
Jonathan F. Cogliano (University of Massachusetts Boston)
Journal
Institute for Social Sciences, Gyeongsang National University MARXISM Vol.20 No.1 KCI Accredited Journals
Published
2023.2
Pages
12 - 66 (55page)

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Surplus Value and the Allocation of Social Labor
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Abstract· Keywords

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A central idea in Marxian value theory is that value is produced through the expenditure of human labor effort and, in capitalist economies, is realized, or observable, in the money form. Marx’s Capital shows that value and surplus value produced by different industries can be realized in the money form (or prices and profit) in very different industries from where it is created, thereby obscuring labor as the source of value, and obscuring the allocation of social labor itself. Connecting value in its observable form of money and prices to the source(s) of its production then becomes crucial to understanding the allocation of social labor in capitalist economies. Recent contributions by Cogliano (2018, 2023), Rieu (2008), and Rieu and Park (2020) propose two different methods for tracing realized money value added to its sources at the industry level. This paper evaluates and compares the Cogliano and Rieu-Park methods by using U.S. input-output data from 1997-2020 to estimate industry-level value and surplus value production in both frameworks. This allows for careful consideration of underlying assumptions in estimating these categories, and deep unresolved theoretical issues in Marxian value theory. As a secondary contribution, this paper adds to a growing body of literature making the case for concepts of surplus value and labor accounting as theoretically relevant for analyzing capitalist economies.
#Allocation of labor #Labor theory of value #Marxian value theory #Rate of exploitation #Surplus value #노동의 배분 #노동가치론 #마르크스주의 가치론 #착취율 #잉여가치

Contents

1. Introduction
2. Conceptual Approach
3. Disentangling Production and Realization
4. Uncovering Surplus Value
5. Equalized Rate of Exploitation
6. Equalized Value Expression of Labor Time
7. Discussion
8. Conclusions
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