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Does Marx Need to Transform?

In: Marxian Economics: A Reappraisal

Author

Listed:
  • Paul Cockshott
  • Allin Cottrell

Abstract

Almost all of the voluminous literature on the Marxian ‘transformation problem’ is predicated on the assumption that, whether or not he succeeded, what Marx was trying to do in part 2, volume III of Capital — namely to derive a set of prices consistent with the equalisation of the rate of profit across all capitals — was correct. Those neo-Ricardians who argue that there is really no transformation problem as such (on the ground that labour values are theoretically redundant — see Steedman, 1977) most emphatically share this assumption.

Suggested Citation

  • Paul Cockshott & Allin Cottrell, 1998. "Does Marx Need to Transform?," Palgrave Macmillan Books, in: Riccardo Bellofiore (ed.), Marxian Economics: A Reappraisal, chapter 6, pages 70-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26121-5_6
    DOI: 10.1007/978-1-349-26121-5_6
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    Citations

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    Cited by:

    1. Esteban Ezequiel Maito, 2021. "La transformación de valores en precios de producción: una contrastación empírica para el sistema capitalista," Ensayos de Economía 20142, Universidad Nacional de Colombia Sede Medellín.
    2. Julian Wells, Julian, 2007. "The rate of profit as a random variable," MPRA Paper 98235, University Library of Munich, Germany.
    3. Alan Freeman, 2010. "Crisis and “law of motion” in economics: a critique of positivist Marxism," Research in Political Economy, in: The National Question and the Question of Crisis, pages 211-250, Emerald Group Publishing Limited.
    4. Andrea Vaona, 2014. "A panel data approach to price–value correlations," Empirical Economics, Springer, vol. 47(1), pages 21-34, August.

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