The "New Solution" to the Transformation Problem: A Sympathetic Critique

Fred Moseley
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Fred Moseley: Department of Economics, Mount Holyoke College, S. Hadley MA 01075 fmoseley@mtholyoke.edu

Review of Radical Political Economics, 2000, vol. 32, issue 2, 282-316

Abstract: This paper critically evaluates the "new solution" to the transformation as presented by Foley and Dumenil and others, from the perspective of the author's "macro-monetary" interpretation of Marx's theory. The main issue emphasized is the method of determination of the inputs of constant capital and variable capital in Marx's theory-whether these inputs are taken as given as quantities of money capital or derived from given quantities of physical goods.

Keywords: Marx; Sraffa; Transformation problem (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:32:y:2000:i:2:p:282-316

DOI: 10.1177/048661340003200205

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