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Surplus Value and the Allocation of Social Labor

조나단 코글리아노
사회과학연구원 (Research Institute of Social Science)|2023.02|마르크스주의 연구 (MARXISM 21)|제20권 제1호|pp. 12-66|DOI 10.26587/marx.20.1.202302.001

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키워드

노동가치론Labor theory of value잉여가치Rate of exploitation착취율Allocation of laborMarxian value theorySurplus value.노동의 배분마르크스주의 가치론
주제분류사회과학일반

초록

A central idea in Marxian value theory is that value is produced through the expenditure of human labor effort and, in capitalist economies, is realized, or observable, in the money form. Marx’s Capital shows that value and surplus value produced by different industries can be realized in the money form (or prices and profit) in very different industries from where it is created, thereby obscuring labor as the source of value, and obscuring the allocation of social labor itself. Connecting value in its observable form of money and prices to the source(s) of its production then becomes crucial to understanding the allocation of social labor in capitalist economies. Recent contributions by Cogliano (2018, 2023), Rieu (2008), and Rieu and Park (2020) propose two different methods for tracing realized money value added to its sources at the industry level. This paper evaluates and compares the Cogliano and Rieu-Park methods by using U.S. input-output data from 1997-2020 to estimate industry-level value and surplus value production in both frameworks. This allows for careful consideration of underlying assumptions in estimating these categories, and deep unresolved theoretical issues in Marxian value theory. As a secondary contribution, this paper adds to a growing body of literature making the case for concepts of surplus value and labor accounting as theoretically relevant for analyzing capitalist economies.

Abstract

A central idea in Marxian value theory is that value is produced through the expenditure of human labor effort and, in capitalist economies, is realized, or observable, in the money form. Marx’s Capital shows that value and surplus value produced by different industries can be realized in the money form (or prices and profit) in very different industries from where it is created, thereby obscuring labor as the source of value, and obscuring the allocation of social labor itself. Connecting value in its observable form of money and prices to the source(s) of its production then becomes crucial to understanding the allocation of social labor in capitalist economies. Recent contributions by Cogliano (2018, 2023), Rieu (2008), and Rieu and Park (2020) propose two different methods for tracing realized money value added to its sources at the industry level. This paper evaluates and compares the Cogliano and Rieu-Park methods by using U.S. input-output data from 1997-2020 to estimate industry-level value and surplus value production in both frameworks. This allows for careful consideration of underlying assumptions in estimating these categories, and deep unresolved theoretical issues in Marxian value theory. As a secondary contribution, this paper adds to a growing body of literature making the case for concepts of surplus value and labor accounting as theoretically relevant for analyzing capitalist economies.

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