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A Marxian Alternative to the Traditional "Transformation Problem"

Author

Listed:
  • Richard D. Wolff

    (University of Massachusetts, Amherst, MA., 01003)

  • Antonino Callari

    (Franklin and Marshall College, Lancaster, PA., 17604)

  • Bruce Roberts

    (College of William and Mary, Williamsburg, Virgina, 23185.)

Abstract

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 authors underscore the theoretical distance separating this Marxian formulation not only from the generally Ricardian framework of the debates over value-price transformation, but also from certain other Marxian critiques of that framework. This intervention in the transformation debates is shown to be closely linked to and warranted by a specific view of the basic differences between Marxian and classical economic theories.

Suggested Citation

  • Richard D. Wolff & Antonino Callari & Bruce Roberts, 1984. "A Marxian Alternative to the Traditional "Transformation Problem"," Review of Radical Political Economics, Union for Radical Political Economics, vol. 16(2-3), pages 115-135, June.
    • Handle: RePEc:sae:reorpe:v:16:y:1984:i:2-3:p:115-135
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    Citations

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    Cited by:

    1. Simon Mohun & Roberto Veneziani, 2017. "Value, Price, And Exploitation: The Logic Of The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1387-1420, December.
    2. Bruno Jossa, 2013. "Marxismo, dialettica ed economia politica," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2013(110), pages 5-25.
    3. Rotta, Tomás N., 2021. "Effective Demand and Prices of Production: An Evolutionary Approach," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 90-105.
    4. Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
    5. Andrew Kliman & Ted McGlone, 1999. "A Temporal Single-system Interpretation of Marx's Value Theory," Review of Political Economy, Taylor & Francis Journals, vol. 11(1), pages 33-59.
    6. David Ruccio & Stephen Resnick & Richard Wolff, 1990. "Class Beyond the Nation-State," Review of Radical Political Economics, Union for Radical Political Economics, vol. 22(1), pages 14-27, March.
    7. Andrea Ricci, 2016. "Unequal Exchange in International Trade:A General Model," Working Papers 1605, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2016.
    8. Freeman, Alan, 2010. "Trends in Value Theory since 1881," MPRA Paper 48646, University Library of Munich, Germany, revised 04 Jan 2011.
    9. Freeman, Alan & Kliman, Andrew, 1998. "Simultaneous and Temporal Valuation Contrasted," MPRA Paper 52805, University Library of Munich, Germany, revised 23 Sep 1998.
    10. Freeman, Alan, 1996. "The Psychopathology of Walrasian Marxism," MPRA Paper 1539, University Library of Munich, Germany.
    11. Andrew Kliman, 2006. "Screpanti versus Marx on exploitation: a comment," Review of Political Economy, Taylor & Francis Journals, vol. 18(2), pages 265-269.
    12. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, February.
    13. Freeman, Alan, 1997. "If they're so rich, why ain't they smart? Another prelude to the critique of economic theory," MPRA Paper 52699, University Library of Munich, Germany, revised 04 Feb 2013.

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