Robin Hahnel

Abstract

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.

Keywords

Sraffa, distributive justice, surplus, profits, effort

From: Review of Radical Political Economics 2019 51 (1)

Editor: Wang Yi