The Transformation Problem: An Obituary

Mark Glick and Hans G Ehrbar

Australian Economic Papers, 1987, vol. 26, issue 49, 294-317

Abstract: This article attempts to analyze the assumptions which must be made in the transformation of values into prices. The author s argue that many of the "problems" discussed in the transformation literature are due to incorrect formulations of these assumptions. I f properly formulated, a transformation as postulated by Karl Marx ca n easily be performed (following the "new solution" by G. Dumenil a nd D. Foley). The alternative approaches of L. Bortkiewicz-P. Sweezy, A. Shaikh, and A. Medio are then reviewed in the light of the new so lution, and an explanation of partial results is given. Copyright 1987 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1987
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