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Transformation problem


 

In Karl Marx's Economics the transformation problem is the problem of finding a general rule to transform Marx?s "values" defined and used in Capital's Volume I into the "competitive prices" (or " prices of production") of Capital's Volume III. This problem was first introduced by Marx himself in Chapter 9 of Capital's Volume III, where he also tried to solve it.

Related Topics:
Karl Marx - Economics

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Transformation problem: Overview ►

~ Table of Content ~

►Introduction
►Overview
►British classical labour theory of value
►Marx?s labour theory of value
►Transformation of values into prices
►Formal conclusions
►Implications and interpretations
►References
►See also

 

 

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