Marx never came to grips with profit and After-Marxians did not spot and rectify his blunders in the last 130+ years. See
- Profit: after 200+ years still elusive
- Karl Marx, fake scientist
- Ricardo and the invention of class war
- Capitalism, poverty, exploitation, and cross-over exploitation
- DSGE and profit―forget it! MMT and profit―forget it!
- Keynes, Lerner, MMT, Trump and exploding profit
REPLY to Barkley Rosser on May 3
You say: “One can argue with Marx’s theory of profit, but it is a deep and serious theory.”
Fact is that the philosopher/agenda pusher/fake scientist Marx had no idea what profit is.#1 And because the foundational concept is false the whole analytical superstructure is false.
Marx’s Capital is NOT a piece of materially/formally consistent science but sociological/ philosophical/political BS or what Feynman called cargo cult science.
This is obvious to anybody with a modicum of scientific competence which a priori excludes you. The deep and serious question is why economists tirelessly recycle long-dead proto-scientific stuff.
#1 Proﬁt for Marxists
Immediately following 'Profit and the Private-Property-Irrelevance Theorem'