The Transformation Trinity: Value, Value Form and Price

Antonino Callari, Bruce Roberts and Richard Wolff

Chapter 4 in Marxian Economics: A Reappraisal, 1998, pp 43-56 from Palgrave Macmillan

Abstract: Abstract The 1970s saw a flurry of activity, generated by Sraffa (1960), re-examining Marx’s theory/theories of value and price. Sraffa’s work seemed to confirm the reservations about the Marxian relationship between values and prices that a well-known list of authors had proclaimed as the (in)famous ‘transformation problem’. The Sraffian system, exploring fully the mutual determination of production costs and prices of outputs, and capturing the essence of this mutual determination through the device of a standard system, supported the view that Marxian values were either wrong or redundant. This history is rather well known.

Keywords: Production Price; Labour Time; Capitalist Relation; Labour Power; Marxian Theory (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26121-5_4

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DOI: 10.1007/978-1-349-26121-5_4

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