A comparison of the stochastic approach to the transformation problem with Marx’s original assumptions

Kenji Mori ()
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Kenji Mori: Tohoku University

Evolutionary and Institutional Economics Review, 2019, vol. 16, issue 2, No 4, 315-317

Abstract: Abstract The stochastic solution provided by Prof. Schefold proposes, by allowing variables to be random, three conditions which should be sufficient for the solution to the transformation problem. These three assumptions are not only added to Marx’s original (implicit or explicit) assumptions, but they also change some essential part of his original argument. This paper will take up in particular two examples of major alteration arranged by the stochastic approach.

Keywords: Transformation problem; Stochastic approach; Marx; Money form; Machinery (search for similar items in EconPapers)
JEL-codes: B1 B3 B4 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s40844-019-00146-0

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