Global Studies Seminar presents Hyun Woong Park

The Global Studies Seminar presents “Estimating the Rate of Surplus Value at the Industry Level: A Case Study of South Korea using the Inverse Transformation Method” by Hyun Woong Park, associate professor in Economics at Denison.

This presentation is based on Woong Park’s paper co-authored with Dong-Min Rieu. 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 the perspective of Marxian value theory.