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

From: Ian Wright (wrighti@ACM.ORG)
Date: Wed Aug 15 2007 - 12:27:32 EDT

> 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

Do you know when the standard *formula* for labour-values was first
presented in the economic literature?

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