[OPE-L:955] Re: the "transformation problem"

Allin Cottrell (cottrell@wfu.edu)
Mon, 5 Feb 1996 12:45:56 -0800

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Andrew writes:

> (3) My point about simultaneous valuation was that "Marxists," who
> supposedly do not take corn to be the substance of value, actually do
> make it the substance of value when *they* "define" values to be simul-
> taneously determined. If the input and output values of corn are
> stipulated to be equal, one gets Torrens's profit rate, no matter what
> changes in labor extraction, wages, etc. occur.

... in the very special case of a one-commodity economy. Why should
that be particularly worrying?