A comparison of the stochastic approach to the transformation problem with Marx’s original assumptions

  • Kenji MoriEmail author


The stochastic solution provided by Prof. Schefold proposes, by allowing variables to be random, three conditions which should be sufficient for the solution to the transformation problem. These three assumptions are not only added to Marx’s original (implicit or explicit) assumptions, but they also change some essential part of his original argument. This paper will take up in particular two examples of major alteration arranged by the stochastic approach.


Transformation problem Stochastic approach Marx Money form Machinery 

JEL Classification

B1 B3 B4 



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Copyright information

© Japan Association for Evolutionary Economics 2019

Authors and Affiliations

  1. 1.Graduate School of Economics and ManagementTohoku UniversitySendaiJapan

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