Does Marx Need to Transform?

Paul Cockshott and Allin Cottrell

Chapter 6 in Marxian Economics: A Reappraisal, 1998, pp 70-85 from Palgrave Macmillan

Abstract: 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.

Keywords: Market Price; Profit Rate; Simple Labour; Organic Composition; Transformation Problem (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-26121-5_6

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