Profit as Cost versus Profit as Surplus over Cost: A Case Study on Varian's "Intermediate Microeconomics"

On the analysis of Varian’s textbook on Microeconomics, which I take to be a representative of the standard view, I argue that Varian provides two contrary notions of profit, namely, profit as surplus over cost and profit as cost. Varian starts by defining profit as the surplus of revenues over cost and, thus, as the part of the value of commodities that is not any cost; however, he provides a second definition of profit as a cost, namely, as the opportunity cost of capital. I also argue that the definition of competitive profit as the opportunity cost of capital involves a self-contradictory notion of opportunity cost.

Prisioneros de los piratas: política y propaganda en la captura de Julio César y Clodio

Este artículo se inscribe dentro del programa de perfeccionamiento postdoctoral en el extranjero del Departamento de Educación, Universidades e Investigación del Gobierno Vasco. Forma parte, asimismo, del proyecto HAR2010-21893: «El discurso sobre el imperio en la República romana: Estrategias de dominación en la oratoria diplomática»