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The historical phases of the debate on the transformation of values into production prices

Author

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  • Tiago Camarinha Lopes

Abstract

Even though the transformation problem in general does not have a widen accepted solution, it is possible to recognize scientific progress when the historical phases of the debate are put side by side in order to complement each other. Therefore, the debate originated from the challenge of the conciliation of the law of value with an equal average rate of profit, though sometimes said to be unfruitful by economists, shows evolution in the long run because it forces non-marxist economic schools to confront concretely the quality side of value in theory and to develop abstract models of planned economy in practice. JEL Classification: B12; B24; B51.

Suggested Citation

  • Tiago Camarinha Lopes, 2012. "The historical phases of the debate on the transformation of values into production prices," Brazilian Journal of Political Economy, Center of Political Economy, vol. 32(2), pages 315-335.
    • Handle: RePEc:ekm:repojs:v:32:y:2012:i:2:p:315-335:id:356
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    More about this item

    Keywords

    value and price; transformation problem; labor theory of value; plan and market;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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