Value, Price and Exploitation: The Logic of the Transformation Problem

Simon Mohun and Roberto Veneziani

No 813, Working Papers from Queen Mary University of London, School of Economics and Finance

Abstract: This paper tries to clarify the logical structure of the relationship between labour values and prices from an axiomatic perspective. The famous 'transformation problem' is interpreted as an impossibility result for a specific interpretation of value theory based on specific assumptions and definitions. A comprehensive review of recent literature is provided, which shows that there are various theoretically relevant and logically consistent alternative interpretations based on different assumptions and definitions.

Keywords: Value; Prices; Transformation problem (search for similar items in EconPapers)
JEL-codes: B51 (search for similar items in EconPapers)
Date: 2017-01-01
New Economics Papers: this item is included in nep-hme
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://www.qmul.ac.uk/sef/media/econ/research/wor ... 2017/items/wp813.pdf (application/pdf)

Related works:
Journal Article: VALUE, PRICE, AND EXPLOITATION: THE LOGIC OF THE TRANSFORMATION PROBLEM (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:qmw:qmwecw:813

Access Statistics for this paper

More papers in Working Papers from Queen Mary University of London, School of Economics and Finance Contact information at EDIRC.
Bibliographic data for series maintained by Nicholas Owen ( this e-mail address is bad, please contact ).