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The so-called “transformation problem” revisited: A brief comment

Duménil, Gérard (1984), The so-called “transformation problem” revisited: A brief comment, Journal of Economic Theory, 33, 2, p. 340-348. http://dx.doi.org/10.1016/0022-0531(84)90095-4

Type
Article accepté pour publication ou publié
Date
1984
Journal name
Journal of Economic Theory
Volume
33
Number
2
Publisher
Elsevier
Pages
340-348
Publication identifier
http://dx.doi.org/10.1016/0022-0531(84)90095-4
Metadata
Show full item record
Author(s)
Duménil, Gérard
Abstract (EN)
This comment deals with Lipietz's presentation of a solution which had been proposed to the transformation problem. Lipietz's account can be criticized in two respects. First, his attempt to integrate the familiar Morishima-type approach with the newer one is based on a confusion between the conceptual and factual determination of the value of labor power. Second, his demonstration of the mathematical conditions for the validity of the new interpretation rests on an inappropriate conceptualization of the price and quantity mechanisms associated with capitalist competition. Moreover his results could not be applied to a more general framework which took account, for example, of joint production.
Subjects / Keywords
Marxian Transformation Problem; Labor; Value Theory; Economics historians; Morishima; Lipietz
JEL
B51 - Socialist; Marxian; Sraffian
J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
D46 - Value Theory
B16 - Quantitative and Mathematical
B31 - Individuals

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