Abstract
It must be surprising and almost unbelievable to nearly all the readers of Capital, if I say that the book is full of primitive errors in logic, not to speak of numerous problematical points in economics proper. But it is true, I have been endeavouring for more than twenty years (written in 1979) to offer an understandable picture of the economic system of Capital. Without persuasive demonstration of these basic defects, it is impossible to describe precisely what is meant by Capital, in which ambiguity very often takes the appearance of profundity.
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Chapter 2
John Gray, The Social System, A Treatise on the Principle of Exchange, Edinburgh 1831, reprinted 1973 by Augustus M. Kelley Publishers, USA, p. 18.
John Gray, Lectures on the Nature and Use of Money, Edinburgh, 1848, Adam & Charles Black, London: Longman, Brown, Green & Longmans, 1898, p. 169.
G.D.H. Cole, Life of Robert Owen, Macmillan, 1930, pp. 63–4.
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Friedrich Engels, Anti-Dühring ( Herr Eugen Dühring’s Revolution in Science), Foreign Languages Publishing House, Moscow, 1954, pp. 429–30.
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Michio Morishima, Marx’s Economics — A Dual Theory of Value and Growth, Cambridge Univ. Press, 1973, pp. 12–13.
George Stigler, ‘Ricardo and the 93% Labor Theory of Value’, American Economic Review, XLVIII, no. 3 1958, pp. 357–67. (Requoted from Murray Wolfson, A Reappraisal of Marxian Economics, Columbia Univ. Press, 1966, p. 199.
Paul M. Sweezy, The Theory of Capitalist Development, Dennis Dobson, London, 1952, p. 109.
Meghnad Desai also writes: ‘The problem of values and prices — the transformation problem — has been at the heart of the controversy regarding Marx’s Theory’ ( Marxian Economics, Basil Blackwell, Oxford, 1979, p. 5)7.
David Laibman, ‘Values and Prices of Production: The Political Economy of the Transformation Problem’, Science and Society, Winter, 1973–4, vol. 37, no. 4, p. 405.
Michio Morishima, George Catephores, Value, Exploitation and Growth, McGraw Hill, UK, 1978, p. 179.
Peter Wiles, ‘Karl Marx as a Religious Philosopher’, Festschrift for Tadao Horie’s 61st Birthday, 1974, p. 353.
H.D. Dickinson, ‘A Comment on Meek’s “Note on the Transformation Problem”’, The Economic Journal, December 1956, pp. 740–1.
Murray Wolfson, ‘The Empirical Content of the Labor Theory of Value: the Transformation Problem Once Again’, Keio Economic Studies, vol.14, no.2, 1978, p. 70.
F. Seton, ‘The Transformation Problem’, Review of Economic Studies, 25, June 1957, pp. 150–1.
Paul A. Samuelson, ‘Understanding the Marxian Notion of Exploitation: A Summary of the So-Called Transformation Problem Between Marxian Values and Competitive Prices’, Journal of Economic Literature, June 1971, vol.IX, no.2, p. 400 ff.
Michio Morishima, Marx’s Economics: A Dual Theory of Value and Growth, Cambridge Univ. Press, 1973, p. 13 ff.
Ulrich Krause, Money and Abstract Labour: On the Analytic Foundations of Political Economy (Geld und abstrakte Arbeit: Über die analytischen Grundlagen der Politischen Ökonomie, 1979, translated by Pete Burgess, NLB and Verso Editions, London, 1982, p. 10.
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© 1991 Tadao Horie
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Horie, T. (1991). The Immanent Self-Contradictions in Marx’s Labour Theory of Value: In Connection with the Transformation Problem. In: Marx’s Capital and One Free World. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11618-8_2
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