Calculation of the Rate of Surplus Value of the Portuguese Economy
An Empirical Approach Based on the Marxist Labor Theory of Value
Bibliographic Data
| ID | 19233271 |
|---|---|
| Authors | Miguel Viegas (0000-0003-1390-4992, DEGEIT–Universidade de Aveiro, Aveiro, Portugal, corresponding author) |
| Year | 2026 |
| Publication date | 2026-02-25 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Review of Radical Political Economics (JOURNAL) |
| Journal identifiers | ISSN: 0486-6134 • E-ISSN: 1552-8502 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/04866134261415648 |
| OpenAlex | W7131662147 |
| Language | EN |
| References cited | 14 |
This article estimates the rate of surplus value of the Portuguese economy between 1995 and 2022 based on Marx’s labor theory of value. Drawing on national accounts and input-output tables, we calculate the monetary expression of labor time (MELT) and trace its evolution alongside working hours, real wages, and productivity. Our findings reveal a rising rate of exploitation, particularly during the post-2008 austerity period, and highlight the growing appropriation of income by capital. The results demonstrate the empirical relevance of Marxist value theory for understanding long-term class dynamics in a peripheral European economy. JEL Classification: B51, E25, C67
Appropriation · Austerity · Capitalism · Labor theory of value · Marxist philosophy · Portuguese · Surplus value · Value theory · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Political Economy and Marxism
| Highly cited | No |
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