The transformation of values into prices on the basis of random systems revisited: reply to my commentators

Bertram Schefold ()
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Bertram Schefold: Johann Wolfgang Goethe-Universität

Evolutionary and Institutional Economics Review, 2021, vol. 18, issue 1, No 17, 317-334

Abstract: Abstract This paper defends The Transformation of Values into Prices on the Basis of Random Systems, published in EIER, by answering to the Comments made in the same journal by Professors Mori, Morioka and Yamazaki. The clarifications mainly concern the justification of the randomness assumptions, the conditions needed to obtain the equality of total profit with total surplus value in the simplified one-industry system and the invariance of the results to changes in the units of measurement.

Keywords: Marxian economics; Transformation problem; Capital theory; Sraffian economics; Profits and distribution (search for similar items in EconPapers)
JEL-codes: B14 B16 B24 C65 D57 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s40844-020-00174-1

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