A Critique of the ‘New Approach’ to the Transformation Problem and a Proposal

This paper shows that the ‘New Approach’ to the ‘problem of transforming values into prices’, first, is subjected to a crucial logical inconsistency and second, is not in a position to deal with the heterogeneous labour case. Thus, the paper proposes an approach, which overcomes these problems and concludes that values of commodities are their actual prices.

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Year of publication:	2006-06
Authors:	Mariolis, Theodore
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Abstract social labour \| heterogeneous labour \| New Approach \| transformation problem

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Notes:	Published in Indian Development Review: An International Journal of Development Economics 1.4(2006): pp. 23-37
Classification:	D46 - Value Theory ; B51 - Socialist; Marxian; Sraffian ; D57 - Input-Output Analysis ; C67 - Input-Output Models ; E11 - Marxian; Sraffian; Institutional; Evolutionary
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008599109