2018•The New Palgrave Dictionary of EconomicsRequires access
Surplus Value
Anwar M. Shaikh
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Abstract
Profitability regulates the health of capitalist society. In this regard, Marx identifies two distinct sources of profit: profit on transfer (or even forcible appropriation) of wealth, which dominates the Mercantilist period; and profit on production of surplus value, which comes into prominence under Industrial Capital. Since trading activities can be linked to either source or profit, it is useful to begin with trading profits.