Hi Dr Herbener,
I’m currently reading Das Kapital (just finished chapter 1) and look into criticism simultaneously.
In this article Robert Murphy explains Böhm-Bawerk’s refutation of the socialist exploitation theory.
If socialists consider the amount of money that is discounted (because of time preferences) the amount of surplus value, then they would have to agree with Böhm-Bawerk’s refutation.
But aren’t socialists considering the amount of pure entrepreneurial profit (the one that would not exist in the evenly rotating economy) to be the amount of surplus value as well?
But in the latter case Böhm-Bawerk would not have refuted the socialist exploitation theory, right? Please correct me if I’m wrong.