The historical phases of the debate on the transformation of values into production prices

Tiago Camarinha Lopes

Brazilian Journal of Political Economy, 2012, vol. 32, issue 2, 315-335

Abstract: Even though the transformation problem in general does not have a widen accepted solution, it is possible to recognize scientific progress when the historical phases of the debate are put side by side in order to complement each other. Therefore, the debate originated from the challenge of the conciliation of the law of value with an equal average rate of profit, though sometimes said to be unfruitful by economists, shows evolution in the long run because it forces non-marxist economic schools to confront concretely the quality side of value in theory and to develop abstract models of planned economy in practice. JEL Classification: B12; B24; B51.

Keywords: value and price; transformation problem; labor theory of value; plan and market (search for similar items in EconPapers)
Date: 2012
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