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A comparison of the stochastic approach to the transformation problem with Marx’s original assumptions

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  • Kenji Mori

    (Tohoku University)

Abstract

The stochastic solution provided by Prof. Schefold proposes, by allowing variables to be random, three conditions which should be sufficient for the solution to the transformation problem. These three assumptions are not only added to Marx’s original (implicit or explicit) assumptions, but they also change some essential part of his original argument. This paper will take up in particular two examples of major alteration arranged by the stochastic approach.

Suggested Citation

  • Kenji Mori, 2019. "A comparison of the stochastic approach to the transformation problem with Marx’s original assumptions," Evolutionary and Institutional Economics Review, Springer, vol. 16(2), pages 315-317, December.
    • Handle: RePEc:spr:eaiere:v:16:y:2019:i:2:d:10.1007_s40844-019-00146-0
    DOI: 10.1007/s40844-019-00146-0
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    References listed on IDEAS

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    1. Bertram Schefold, 2019. "The transformation of values into prices on the basis of random systems revisited," Evolutionary and Institutional Economics Review, Springer, vol. 16(2), pages 261-302, December.
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    Cited by:

    1. Tsoulfidis, Lefteris, 2021. "Capital Theory Debates: New Developments and Direction," Centro Sraffa Working Papers CSWP51, Centro di Ricerche e Documentazione "Piero Sraffa".
    2. Bertram Schefold, 2021. "The transformation of values into prices on the basis of random systems revisited: reply to my commentators," Evolutionary and Institutional Economics Review, Springer, vol. 18(1), pages 317-334, April.

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    More about this item

    Keywords

    Transformation problem; Stochastic approach; Marx; Money form; Machinery;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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