The epistemology of transformation: a criticism of the neoricardianism

Cláudio Gontijo ()

Brazilian Journal of Political Economy, 1989, vol. 9, issue 3, 386-405

Abstract: In the solution of the “transformation problem”, Marx erred in believing thatthe profit rate determined in the value system was the mediation between values and productionprices. This error invalidates Marx’s “doble postulate”, according to which the sumof values equals the sum of prices and the sum of surplus value equals the sum of profits. Byusing a linear operator from the value system, it is possible to fully determine the averageprofit rate and the system of production prices. ln this way, we can preserve Marx’s fundamentalepistemological postulate, according to which the realm of essence (values) determinesthe realm of transparent reality (prices). JEL Classification: D46; B51.

Keywords: Transformation problem; value theory; prices (search for similar items in EconPapers)
Date: 1989
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