IDEAS home Printed from https://ideas.repec.org/p/arx/papers/2303.11471.html
   My bibliography  Save this paper

Both invariant principles implied by Marx's law of value are necessary and sufficient to solve the transformation problem through Morishima's formalism

Author

Listed:
  • Norbert Ankri
  • Paikan Marcaggi

Abstract

The unit value of a commodity that Michio Morishima's method and its variations enable to determine correctly, is the sum of the value of the commodities it contains (inputs) and the quantity of labor required for its production. However, goods are sold at their price of production only when they meet a solvent social need that involves the entire economy with its interconnections between the different industrial sectors. This condition gives full meaning to Marx's fundamental equalities, which constitute invariants that apply to the economy as a whole. These equalities are necessary to determine prices of production. We demonstrate that they also enable to solve the transformation problem by starting from Morishima's formalism and returning to a formalism closer to that used by Marx.

Suggested Citation

  • Norbert Ankri & Paikan Marcaggi, 2023. "Both invariant principles implied by Marx's law of value are necessary and sufficient to solve the transformation problem through Morishima's formalism," Papers 2303.11471, arXiv.org, revised Oct 2024.
    • Handle: RePEc:arx:papers:2303.11471
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/2303.11471
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Norbert Ankri & Païkan Marcaggi, 2022. "From Marx’s fundamental equalities to the solving of the transformation problem - Coherence of the model [Des égalités fondamentales de Marx à la résolution du problème de la transformation - Cohér," Working Papers hal-03458603, HAL.
    2. Norbert Ankri & Paikan Marcaggi, 2022. "From Marx's fundamental equalities to the solving of the transformation problem -- Coherence of the model," Papers 2210.09097, arXiv.org, revised Oct 2024.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Norbert Ankri & Païkan Marcaggi, 2023. "Both invariant principles implied by Marx’s law of value are necessary and sufficient to solve the transformation problem through Morishima's formalism [Les deux principes invariants qu’implique la," Working Papers hal-03994960, HAL.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:2303.11471. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.