Reclaiming Marx's 'Capital': A Refutation of the Myth of Inconsistency

“After Bortkiewicz “corrected” it a century ago, almost everyone, orthodox and Marxian economists alike, accepted the view that Marx’s value theory is internally inconsistent. In Reclaiming Marx’s “Capital,” Andrew Kliman, a proponent of what is known as the “temporal single-system interpretation” (TSSI), sorts out a bewildering tangle of approaches and issues in order to demonstrate that the charge of internal inconsistency is false. From this perspective, the controversies concerning Marx’s law of the tendential fall in the rate of profit, the so-called “transformation problem,” and other basic elements of value theory appear in a fresh new light. Specialists cannot afford to neglect Kliman’s argument. Non-specialists will find that Kliman not only argues but teaches. Reclaiming Marx’s “Capital” is a fresh attempt to get it right, in terms Marx himself would have recognized.” ―Thomas Jeannot, Professor of Philosophy, Gonzaga University

“Cutting through swathes of misconception, the author writes in an accessible way especially for the non-specialist reader and keeps the maths to a minimum.” ―Labour Research

“Kliman provides an impressive contribution to the ongoing debate concerning how best to interpret and develop Marx’s theory of value….The strength of Kliman’s contribution lies in his commitment to engage in scholarly debate….Reclaiming Marx’s Capital provides a significant contribution….Kliman’s book succeeds.” ―H-Net: Humanities and Social Science Reviews Online

“Perhaps no work helps us understand our capitalist civilization better than Marx’s book, Capital. Yet, the years have surrounded it with so many misunderstandings that even people interested in Marxism have tended to avoid this essential text. In Reclaiming Marx’s “Capital,” Kliman’s arguments – and it is largely a book of arguments – operate like a buzz saw clearing away the underbrush of misplaced criticisms that have kept the real CAPITAL hidden from most of its potential readers. The project is much needed, and brilliantly and clearly (and for this reader, convincingly) executed. Highly recommended for all those who need CAPITAL (and who doesn’t?).” ―Bertell Ollman, Professor of Politics, NYU