The Dialectic Values and Prices

ABSTRACT

Most of the debate about the so-called “transformation problem”; which stems from Böhm-Bawerck’s criticism of the third volume of Capital, has a frame of reference that attributes presuppositions and a methodology to Marx that are more suitable to the Walrasian theory. This article discusses that question aiming at two different goals. It points the problematic consequences to the Marxist theory of values and prices of the acceptance of the presuppositions of the equilibrium approach. On the other hand, it offers an argument for tackling the “transformation problem” from a strictly dialectical point of view.

KEYWORDS:
Labor theory of value; transformation problem