Cockshott, Paul and Dieterich, Heinz, “The Contemporary Relevance of Exploitation Theory”, Marxism 21, v.8(1), 2011, pp. 206-236
This article presents the relevance of the Marxian theory of exploitation both to the analysis of contemporary economies and to socialist economies. It reviews the econometric evidence to support the labour theory of value and then goes on to examine how this can be applied in the payment system of a socialist economy. The policy steps needed to implement a transition to such an economy are briefly outlined.