Transcription of Does Marx Need to Transform? - users.wfu.edu
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Does Marx Need to Transform? - users.wfu.edu
does marx Need to Transform? W. Paul Cockshott and Allin F. Cottrell Revised, May 19951 IntroductionAlmost all of the voluminous literature on the Marxian transformation prob-lem is predicated on the assumption that, whether or not he succeeded, whatMarx wastryingto do in Part II ofCapital, volume III namely, derive aset of prices consistent with the equalisation of the rate of profit across allcapitals was correct. Those neo-Ricardians who argue that there is reallyno transformation problem as such (on the grounds that labour values aretheoretically redundant see Steedman, 1977) most emphatically share rare exception to this orthodoxy is Farjoun and Machover sLaws ofChaos(1983). Farjoun and Machover, like Steedman, conclude that thereis really no transformation problem, but for a very different reason, namelythat the assumption of a tendency toward the equalisation of the rate ofprofit is both empirically false and theoretically untenable.
Does Marx Need to Transform? ... This paper was prepared for the conference on Karl Marx’s third volume of ‘Capital’: 1894–1994, University of Bergamo, ...
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