Reply to Gehrke

Fred Moseley

Review of Political Economy, 2011, vol. 23, issue 2, 307-315

Abstract: This paper responds to Christian Gehrke's comment, and argues that the main conclusion of my earlier paper is sustained—that, contrary to Sraffa, Marx did not ‘adopt’ in any sense of the word the joint product method of treating fixed capital. It agrees with Gehrke that Torrens adopted a form of the joint product method, and that Malthus seems to have followed Torrens in this regard. However, it argues that Ricardo did not adopt the joint product method, not even in the one instance cited by Sraffa. Finally, it argues briefly that Marx's ‘transformation of value’ method of treating fixed capital and depreciation is superior to Sraffa's joint product method.

Date: 2011
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DOI: 10.1080/09538259.2011.561566

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