Re: Re: a profound comment on the "transformation problem"

[Jim Devine <jdevine@xxxxxxxxxxxxxxx>]

At 04:37 PM 9/21/00 -0400, you wrote:
> Jim,
> I don't have the book yet and will not be able to get it probably for a
> while, so could you please comment or reproduce Andrews' discussion (main
> points or how his proposed solution differ or reproduces other previous
> solutions) of the transformation problem.
>
> Thanks,
>
> Fabian

His main point seems to be a relatively common-sense explanation of the
"solution" to the "transformation problem" that Fred Moseley advocates. See
the latter's article in the current _Review of Radical Political Economics_
or in the book he edited, _Marx's Method in Capital_. It's a very simple
solution, basically saying that there's no problem at all, since prices and
values normally differ, but total prices = total value, while total
property income = total surplus-value.

Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine