Estimating gross domestic product with surplus value

Abstract

This paper examines the relationship among Marxian determinants of surplus value and gross output. Two versions of a Marxian-based computer model that permit simulation and sensitivity analysis are discussed and an example provided by Marx in Chapter 17 is replicated. Estimates of aggregate surplus value and value are made and implications demonstrated for the distribution of value, use value and social labor. Total value produced or transferred is then compared to U.S. GDP. Interestingly, although not identical in concept, there is only a 15% difference. The model is then used to assess the difference. Implications for research and teaching are explored.

Citation

Kasper, V. (2002), "Estimating gross domestic product with surplus value", Zarembka, P. (Ed.) Confronting 9-11, Ideologies of Race, and Eminent Economists (Research in Political Economy, Vol. 20), Emerald Group Publishing Limited, Leeds, pp. 121-183. https://doi.org/10.1016/S0161-7230(02)20005-X