What the study found
The study found a rising rate of surplus value, also described as a rising rate of exploitation, in the Portuguese economy between 1995 and 2022.
Why the authors say this matters
The authors conclude that the findings show the empirical relevance of Marxist value theory for understanding long-term class dynamics in a peripheral European economy.
What the researchers tested
The article estimates the rate of surplus value in Portugal using Marx’s labor theory of value. The researchers drew on national accounts and input-output tables to calculate the monetary expression of labor time (MELT), and they tracked its evolution alongside working hours, real wages, and productivity.
What worked and what didn't
The results indicate a rising rate of exploitation, with the increase especially apparent during the post-2008 austerity period. The abstract also says there was growing appropriation of income by capital.
What to keep in mind
The available summary does not describe specific limitations or caveats beyond the study’s focus on Portugal from 1995 to 2022.
Key points
- The study estimates Portugal’s rate of surplus value from 1995 to 2022.
- It reports a rising rate of exploitation over that period.
- The increase is described as especially strong during the post-2008 austerity period.
- The researchers used national accounts and input-output tables to calculate the monetary expression of labor time (MELT).
- The authors say the findings support the empirical relevance of Marxist value theory.
Disclosure
- Research title:
- Portuguese economy shows a rising rate of surplus value
- Authors:
- Miguel Viegas
- Institutions:
- University of Aveiro
- Publication date:
- 2026-02-25
- OpenAlex record:
- View
Get the weekly research newsletter
Stay current with peer-reviewed research without reading academic papers — one filtered digest, every Friday.