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Lorenzo Warby's avatar

Thank you for the excellent summary. A point of clarification (entirely my fault, I was unclear). Marx’s ‘surplus value’ is a polemical conception of little analytical value: a typical degraded product of activist scholarship. There is, however, a useful concept of surplus (ask any archaeologist). I should have made it clear that I was not saying surplus value = surplus. As is not uncommon with Marx (and activist scholarship generally) his concept of surplus value slides between invoking a useful concept and a polemical weapon.

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Jon's avatar

What is the difference between "surplus" and profits?

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