Re: The increasing transformation problem

From: Ernesto Screpanti (screpanti@UNISI.IT)
Date: Tue Jun 10 2003 - 03:33:31 EDT

At 15.42 05/06/2003 +0100, you wrote:
>Ernesto Screpanti wrote:
>>When the organic composition of capital is not uniform, production prices
>>are different from labour values.
>>Is it possible to say that the greater the dispersion of organic
>>compositions the higher the differences between prices and labour values.
>>In other words: is it true that the price-value differences are an
>>increasing function of the differences between the actual and the average
>>organic composition of capital?
>There is some evidence to support this.
>Values are generally equally good as or better than production prices
>as estimates of market prices.
>This is supported by a number of studies.
>but there is a positive correlation between
>o and m/v where
>m= market price
>v= value of a commodity
>o = organic composition of the capital used in making it.
>This result is supported by investigations that I have done
>with Allin.
>What is interesting is that the correlation is not a strong as
>predicted by the theory in volume III of capital. Actual
>prices seem to be about half way between untransformed
>values and fully transformed prices of production.

This is very interesting. Can you give me the references, please?

However I am interested in the theoretical relationship between production
prices and values.

In solidarity


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