Re: [OPE-L] a paper on Marx's transformation problem and Ricardo's problem of an invariable measure of value

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Wed Aug 15 2007 - 06:31:22 EDT

--- Ian Wright <wrighti@ACM.ORG> wrote:

> I pretty much agree with what you say. Except
> Sraffa's dated formula
> yields the standard formula for labour-values when
> profits are zero,
> and Sraffa notes this point; so his dated
> representation is connected
> to the calculation of labour-values. The dated
> interpretation of the
> standard formula for labour-values that I present in
> my paper is more
> inspired by Dmitriev and Samuelson rather than
> Sraffa.
But Ian, it is well known (at least since Adam Smith)
that when the rate of profits is equal to zero, i.e.,
when all the income goes to labor then prices of
production are identical with labor values. This is
what you get when you put rate of profits equal to
zero in the dated labor equation. Cheers, ajit sinha

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