Estimating the rate of surplus-value at the industry level: A case study of the South Korea using the inverse transformation method

Abstract

Based upon the "new interpretation" of Marxian value theory, this paper provides the inverse transformation method to estimate the rate of surplus value at the industry level. Without assuming the equalized rate of surplus-value as a long-period position, we can analyze the dynamic of unequal development between industries. As an empirical verification of the methodology, we also examine the South Korean economy through Marxian's perspective of value theory.