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The Transformation Problem : An Aleternative Solution with an Identical Aggregate Profit Rate in the Labor value and the Monetary Space

Author

Listed:
  • Loranger, J.G.

Abstract

The aim of this paper is to demonstrate that, even if Marx's solution to the transformation problem can be modified, his basic conclusions remain valid. The proposed alternative solution which is presented hare is based on the constraint of a common general profit rate in both spaces and a money wage level which will be determined simultaneously with prices.

Suggested Citation

  • Loranger, J.G., 1996. "The Transformation Problem : An Aleternative Solution with an Identical Aggregate Profit Rate in the Labor value and the Monetary Space," Cahiers de recherche 9625, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    • Handle: RePEc:mtl:montec:9625
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    More about this item

    Keywords

    WAGES; PRICES; LABOUR; CAPITAL;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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