Full text: Distribution Theory in Marx and in Kalecki.

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£he worker was. paid by the capitalist not the product 
of his labour but only his • subsistence needs. 
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Iiu.an. alternative f ormulatie-a: The worker was made to 
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work longer than necessary to produce the needs for his 
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subsistence. 
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But in trying to meet the ideologist of capitalism on his 
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own ground Marx worked out a terminology and a way of 
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thinking which removed him from any chance of 
dialogue with economists or business men, because their 
notions refer to profit and wages, not to surplus and value. 
What is the meaning o^ the statement that the capitalist 
sells his product at its value? In the world of the 
classics this value was measured in corn. 
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But in a money economy it becomes very difficult to understand. 
And if it is applied n ot to the single commodity but y 
as Marx ultimately intended^ to -the whole output of the economy 
it seems that it reduces to a tautology. 
The value of the output is the number of manhours socially 
necessary to produce it. But the capitalist sells the 
output for money. What is the value of money? In a 
Ricardian classical world you might still/imagine an answer 
to it - gold - but that can hardly be taken seriously to-day. 
The value of money can only be the value of the goods you 
can buy with it. So we are back.-fr'A ' 1 e ' J f] 1 
By his insistence that the trick of the capitalist is not 
in the commodity market but exclusively in the labour 
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market^ it becqme^ als 
o difficult to understand the role 
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of the trade unions. In fact, the limitation of their 
power is just that they can not control prices. 
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