This paper offers a unique Marxian formulation of the transformation of values in prices of production. This formulation-based upon a specific reading of Marx's economics not previously applied to the "transformation problem"-permits a radically new conception and solution to that problem. The...

This paper constructs a specifically Marxian theory of economic crisis from scattered but sufficient theoretical arguments in Marx's work. This theory integrates the following conceptual elements viewed as central: capital accumulation, falling rate of profit, realization problem, the efficiency...

We argue that Marx provided the basis for a far more complex class analysis of social formations than has been recognized. We find this analysis to be consistent neither with the two-class approach long prevalent in the Marxian tradition nor with recent critiques of that approach by Poulantzas,...