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

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  • Mariolis, Theodore

Abstract

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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File URL: http://mpra.ub.uni-muenchen.de/24019/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 24019.

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Date of creation: Jun 2006
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Publication status: Published in Indian Development Review: An International Journal of Development Economics 1.4(2006): pp. 23-37
Handle: RePEc:pra:mprapa:24019

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Keywords: Abstract social labour; heterogeneous labour; New Approach; transformation problem;

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References

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  1. Simon Mohun, 1993. "A note on Steedman's " Joint production and the 'new solution' to the transformation problem"," Indian Economic Review, Department of Economics, Delhi School of Economics, Department of Economics, Delhi School of Economics, vol. 28(2), pages 241-246, July.
  2. Simon Mohun, 1993. "Response to Steedman's Reply," Indian Economic Review, Department of Economics, Delhi School of Economics, Department of Economics, Delhi School of Economics, vol. 28(2), pages 248-250, July.
  3. Mariolis, Theodore, 2006. "A Critical Note on Marx’s Theory of Profits," MPRA Paper, University Library of Munich, Germany 24044, University Library of Munich, Germany.
  4. Bidard, Christian, 1997. "Pure Joint Production," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 21(6), pages 685-701, November.
  5. Krause, Ulrich, 1981. "Heterogeneous Labour and the Fundamental Marxian Theorem," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 48(1), pages 173-78, January.
  6. Mohun, Simon, 2000. "New Solution or Re(in)statement? A Reply," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 24(1), pages 113-17, January.
  7. Glick, Mark & Ehrbar, Hans G, 1987. "The Transformation Problem: An Obituary," Australian Economic Papers, Wiley Blackwell, Wiley Blackwell, vol. 26(49), pages 294-317, December.
  8. Ian Steedman, 1999. "Production of Commodities by Means of Commodities and the Open Economy," Metroeconomica, Wiley Blackwell, Wiley Blackwell, vol. 50(3), pages 260-276, October.
  9. Shaikh,Anwar M. & Tonak,E. Ahmet, 1997. "Measuring the Wealth of Nations," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521564793.
  10. Theodore Mariolis, 2004. "Pure joint production and international trade: a note," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 28(3), pages 449-456, May.
  11. Steedman, Ian & Metcalfe, J S, 1981. "On Duality and Basic Commodities in an Open Economy," Australian Economic Papers, Wiley Blackwell, Wiley Blackwell, vol. 20(36), pages 133-41, June.
  12. Mohun, Simon, 1994. "A Re(in)statement of the Labour Theory of Value," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 18(4), pages 391-412, August.
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