A Capital Invariant Solution to the Marxian Transformation Problem

Gabriel Montes-Rojas ()

Review of Radical Political Economics, 2017, vol. 49, issue 1, 114-124

Abstract: This paper constructs a new solution to the Marxian transformation problem in a simple reproduction economy. It imposes two invariant equations using both constant and variable capital, separately, in order to solve the price and value system. This solution produces a profit rate that lays in between the “new interpretation†and labor-valued profit rates.

Keywords: Marxian transformation problem; new interpretation; values; prices of production (search for similar items in EconPapers)
JEL-codes: B14 B24 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:49:y:2017:i:1:p:114-124

DOI: 10.1177/0486613415616216

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