The Question of Profits
Review of Radical Political Economics
Where do profits come from? Are they morally justified? Sraffians provide a clear answer to the first question but have declined to give a direct answer to the second question. This article argues that the “fundamental Sraffian theorem” implies a compelling moral critique of profits, but that this critique can be strengthened by replacing the “contribution-based” approach common among economists with a “sacrifice-based” theory consistent with work by modern egalitarian philosophers.
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Hahnel, R. (2019). The Question of Profits. Review of Radical Political Economics, 51(1), 129–146. https://doi.org/10.1177/0486613417709032