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Profit for Marxists

25 Pages Posted: 25 Mar 2014 Last revised: 26 Mar 2014

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

Date Written: March 25, 2014


Marxian economics and standard economics are widely different yet they share a central weakness: the respective profit theories are demonstrably false – each one in its own characteristic way. Roughly speaking, Marx tried to explain profit by objective factors while standard economics cites subjective factors. For different reasons, neither route led to satisfactory results. The conclusion is straightforward: one has to do better. The conceptual consequence is to first reconstruct the profit theory from a solid basis with no regard to either Marxian or standard premises. In order to succeed, objective-structural axioms have to be taken as formal point of departure.

Keywords: new framework of concepts, structure-centric, axiom set, profit theory, surplus value, distribution, real shares

JEL Classification: B59, E11, E25

Suggested Citation

Kakarot-Handtke, Egmont, Profit for Marxists (March 25, 2014). Available at SSRN: or

Egmont Kakarot-Handtke (Contact Author)

University of Stuttgart - Institute of Economics and Law ( email )

Keplerstrasse 17

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