Labour-values through a succession of redefinitions: an analysis of the "new solutions" to the "transformation problem"
DOI:
https://doi.org/10.1590/0101-41614836glfKeywords:
Transformation problem, New Solution, Labour-values, Value theory, Production pricesAbstract
Until 1980, the ‘transformation problem’ used to be seen as an overcome issue in the classical theory of value. However, since 1980, ‘new solutions’ have been published – the “New Interpretation”, “Temporal Single System”, “Radical Reconceptualization” and the “Macro-monetary interpretation”. Our contribution here is to present and evaluate them using a simple analytical scheme, without linear algebra. We also present the sraffian interpretation of Marx’s theory of value, which has solid textual basis and allows us to understand why there are so many “new solutions” for a problem that didn’t exist. We conclude that, from an interpretative point of view, the new contributions are problematic and, from an analytical point of view, they don’t provide an original contribution to the literature. In the appendices, we present the same concepts using linear algebra and a proof of convergence of the “temporal” price system to the “simultaneist” production prices system.
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