The Transformation of Values into Prices of Production : A Different Reading of Marx's Text

The purpose of this article is to propose a systematic reading of the transformation procedure illustrated by Marx in the first example of Chapter 9, Capital III, with an effort to convey the non dualistic vision he has of the economy. The article shows that Marx’s texts on the transformation have a radically different meaning than that attributed to them by Bortkiewicz and other authors, and establishes the soundness of Marx’s conclusions. Moreover, the passages where Marx tests the validity of his results are carefully examinated. To do this, we follow an observation made by Marx himself which has been completely neglected in the subsequent literature.