Value and Crisis: Bichler and Nitzan versus Marx

In this article, Andrew Kliman responds to Bichler and Nitzan’s recent paper on‘Systemic Fear, Modern Finance and the Future of Capitalism’ (2010). He then goes on to raise a series of issues concerning the critique of Marxian value theory which these authors put forward in their book Capital as Power (Nitzan and Bichler, 2009).