[OPE-L:2050] Re: Kliman-McGlone interpretation of the transformation problem

akliman@acl.nyit.edu (akliman@acl.nyit.edu)
Tue, 30 Apr 1996 20:24:04 -0700

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I responded yesterday to Fred's latest on the TSS interpretation not
transforming the surplus-value in 1 period. But evidently it is lost
somewhere--at least I haven't received it back 31 hours later. If need
be I'll re-send it.

In any case, I was a bit surprised to see Allin's post. I had earlier
(shortly after he originally posted) responded to his argument that the
TSS profit rate really isn't equalized, but heard nothing from him (or
anyone else) regarding my response.

Again: my basic response is

(a) the profit per unit of capital advanced *is* equalized, and this is
the profit rate that, in Marx's (and the classicists') theory, tends
to be equalized through competition; and

(b) that the revenue for capitalist consumption per unit of capital advanced
is not equalized is no real problem. It would only be a problem if
capitalists' goal were consumption, which Marx repeatedly, emphatically,
and clearly rejects.

Again, this issue was discussed in the exchange between Michele Naples
and I in _Capital and Class_ 51.

Andrew Kliman