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The Transformation Problem: An Obituary

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  • Glick, Mark
  • Ehrbar, Hans G

Abstract

This article attempts to analyze the assumptions which must be made in the transformation of values into prices. The author s argue that many of the "problems" discussed in the transformation literature are due to incorrect formulations of these assumptions. I f properly formulated, a transformation as postulated by Karl Marx ca n easily be performed (following the "new solution" by G. Dumenil a nd D. Foley). The alternative approaches of L. Bortkiewicz-P. Sweezy, A. Shaikh, and A. Medio are then reviewed in the light of the new so lution, and an explanation of partial results is given. Copyright 1987 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Suggested Citation

  • Glick, Mark & Ehrbar, Hans G, 1987. "The Transformation Problem: An Obituary," Australian Economic Papers, Wiley Blackwell, vol. 26(49), pages 294-317, December.
    • Handle: RePEc:bla:ausecp:v:26:y:1987:i:49:p:294-317
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    Cited by:

    1. Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
    2. Eckhard Hein, 2019. "Karl Marx: an early post-Keynesian? A comparison of Marx's economics with the contributions by Sraffa, Keynes, Kalecki and Minsky," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 16(2), pages 238-259, September.
    3. Dong‐Min Rieu, 2008. "Estimating Sectoral Rates Of Surplus Value: Methodological Issues," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 557-573, November.
    4. Fred Moseley, 2000. "The "New Solution" to the Transformation Problem: A Sympathetic Critique," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(2), pages 282-316, June.
    5. Gabriel Montes-Rojas, 2017. "A Capital Invariant Solution to the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(1), pages 114-124, March.
    6. Freeman, Alan, 2010. "Trends in Value Theory since 1881," MPRA Paper 48646, University Library of Munich, Germany, revised 04 Jan 2011.
    7. Mariolis, Theodore, 2006. "A Critique of the ‘New Approach’ to the Transformation Problem and a Proposal," MPRA Paper 24019, University Library of Munich, Germany.
    8. Gabriel V. Montes‐Rojas, 2023. "A typology of Marxian transformation procedures with endogenous exploitation rate," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 119-137, February.
    9. Freeman, Alan, 1996. "The Psychopathology of Walrasian Marxism," MPRA Paper 1539, University Library of Munich, Germany.

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