Abstract
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.
References
Marx K (1954) Capital, vol I. Progress Publishers, Moscow
Marx K (1956) Capital, vol II. Progress Publishers, Moscow
Marx K (1982) Zur Kritik der politischen Ökonomie (Manuskript 1861–1863). Marx-Engels-Gesamtausgabe, II. Abteilung, Band 3, Teil 6. Dietz Verlag, Berlin. (abbr. MEGA II/3.6)
Schefold B (2014) Profits equal surplus value on average and the significance of this result for the Marxian theory of accumulation. Camb J Econ 40(1):165–199
Schefold B (2019) The transformation of values into prices on the basis of random systems revisited. Karl Marx 200–International Symposium Tokyo, December 22–23, 2018. Second Draft
Author information
Authors and Affiliations
Corresponding author
Additional information
Publisher's Note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
About this article
Cite this article
Mori, K. A comparison of the stochastic approach to the transformation problem with Marx’s original assumptions. Evolut Inst Econ Rev 16, 315–317 (2019). https://doi.org/10.1007/s40844-019-00146-0
Published:
Issue Date:
DOI: https://doi.org/10.1007/s40844-019-00146-0