The so-called “transformation problem” revisited: A comment |
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Authors: | Peter Flaschel |
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Institution: | Freie Universität, Berlin, West-Germany |
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Abstract: | This comment shows that Lipietz's Marxist transformation theorem represents but a simple, though useful reinterpretation of obvious mathematical consequences of a standard Sraffa model—by making appropriate use of its known degree of freedom. Labor values are not involved in this new interpretation of conventional prices of production. A proposal is therefore made how their role in Marx's transformation may be investigated further on the basis of Lipietz's theorem and its interpretation of the “value of labor power”. |
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