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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 loi de la valeur de Marx sont nécessaires et suffisants pour résoudre le problème de la transformation en partant du formalisme de Morishima]

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  • Norbert Ankri

    (UNIS - Inserm U1072 - Unité de Neurobiologie des canaux Ioniques et de la Synapse - AMU - Aix Marseille Université - INSERM - Institut National de la Santé et de la Recherche Médicale - CNRS - Centre National de la Recherche Scientifique)

  • Païkan Marcaggi

    (UNIS - Inserm U1072 - Unité de Neurobiologie des canaux Ioniques et de la Synapse - AMU - Aix Marseille Université - INSERM - Institut National de la Santé et de la Recherche Médicale - CNRS - Centre National de la Recherche Scientifique)

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 market production price 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 derive from the law of value and constitute invariants that apply to the economy as a whole. These equalities are necessary to determine market production prices. We demonstrate that they also enable to solve the transformation problem for a simple reproduction system without fixed capital by starting from Morishima's formalism and returning to a formalism closer to that used by Marx.

Suggested Citation

  • 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.
    • Handle: RePEc:hal:wpaper:hal-03994960
    Note: View the original document on HAL open archive server: https://hal.science/hal-03994960v2
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    References listed on IDEAS

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    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.
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    1. 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.

    More about this item

    Keywords

    Labor theory of value; Karl Marx; capitalism; profit; surplus value; Théorie de la valeur-travail; Capitalisme; plus-value;
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