CONTENTS
List of figures = ⅷ
List of tables = xi
Preface = xv
1 Introduction = 1
1.1 Approaches to the measurement of national product = 1
1.2 Official national accounts = 6
1.3 Extended national accounts for the United States = 9
1.4 Toward an alternate approach to national accounts = 17
2 Basic theoretical foundations = 20
2.1 The distinction between production and nonproduction activities = 20
2.2 Productive labor under capitalism = 29
2.3 Productive labor in orthodox economics = 32
2.4 Production labor, surplus value, and profit = 34
3 Marxian categories and national accounts: Money value flows = 38
3.1 Primary flows: Production and trade = 40
3.2 Secondary flows = 52
A. Private secondary flows: Ground rent, finance, royalties = 53
B. Public secondary flows: General government activities = 59
3.3 Net transfers from wages, the social wage, and the adjusted rate of surplus value = 63
3.4 Foreign trade = 65
3.5 Noncapitalist activities and illegal activities = 71
3.6 Summary of the relation between Marxian and conventional national accounts = 72
4 Marxian categories and national accounts: Labor value calculations = 78
4.1 Calculating labor value magnitudes = 78
4.2 Rates of exploitation of productive and unproductive workers = 86
5 Empirical estimates of Marxian categories = 89
5.1 Primary Marxian measures in benchmark years = 89
5.2 Annual series for primary measures, based on NIPA data = 92
5.3 Employment, wages, and variable capital = 107
5.4 Surplus value and surplus product = 113
5.5 Marxian, average, and corporate rates of profit = 122
5.6 Rates of exploitation of productive and unproductive workers = 129
5.7 Marxian and conventional measures of productivity = 131
5.8 Government absorption of surplus value = 137
5.9 Net tax on labor and adjusted rate of surplus value = 137
5.10 Empirical effects of price-value deviations = 141
5.11 Approximating the rate of surplus value = 144
5.12 Summary of empirical results = 146
6 A critical analysis of previous empirical studies = 152
6.1 Studies that fail to distinguish between Marxian and NIPA categories = 154
6.2 Studies that do distinguish between productive and unproductive labor = 161
6.3 Studies based on the distinction between necessary and unnecessary labor (economic "surplus") = 202
7 Summary and conclusions = 210
7.1 Surplus value, profit, and growth = 211
7.2 Marxian and conventional national accounts = 216
7.3 Empirical results = 221
7.4 Comparison with previous studies = 224
7.5 Conclusions = 228
Appendices = 231
A Methodology of the input-output database = 233
B Operations on the real estate and finance sectors = 253
C Summary input-output tables = 274
D Interpolation of key input-output variables = 278
E Annual estimates of primary variables = 283
F Productive and unproductive labor = 295
G Wages and variable capital = 304
H Surplus value and profit = 323
I Rates of exploitation of productive and unproductive workers = 329
J Measures of productivity = 336
K Government absorption of surplus value = 344
L Aglietta's index of the rate of surplus value = 346
M Mage and NIPA measures of the capitalist sector gross product = 351
N The net transfer between workers and the state, and its impact on the rate of surplus value = 356
References = 361
Author index = 369
Subject index = 371
