[OPE-L:1305] Re: A Problem w. Transformation

John R. Ernst (ernst@pipeline.com)
Mon, 4 Mar 1996 12:10:46 -0800

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Within the context of most of the transformation literature,
I think what you say is right. The difficulty is that this
way of doing the transformation seems at variance with
Marx and yet often is presented as his albeit with
the usual corrections. This "correction" strikes me as
odd and suggests that the literature is doing one thing
and Marx another.

I'm not sure about your idea concerning prices of production
"pushing away." For Marx, they never had prices of production
at all. Further, their "values" are never transformed.

Your thoughts?


On Mon, 4 Mar 1996 Allin Cottrell <cottrell@wfu.edu> said:

>On Mon, 4 Mar 1996, John R. Ernst wrote:
>> [T]o derive prices of production from values
>> one assumes a uniform rate of profit in all sectors even though
>> all sectors are not earning that same rate of profit.
>Aren't prices of production a hypothetical set of prices: those
>prices that _would_ be consistent with a fully equalized rate
>of profit? Monopoly and rent elements would then be counted as
>pushing actual market prices away from prices of production.
>Allin Cottrell