Abstract
It is often argued by Marxist and non-Marxist authors alike (see, for example, Bronfenbrenner, 1968; Horverak, 1988) that Marx’s production prices, the outcome of the transformation procedure in volume III of Capital, are equilibrium prices and that, as far as this is concerned, there is no substantial difference with equilibrium prices as in neoclassical price theory (hereafter NCPT). Conversely this chapter argues that neoclassical equilibrium prices have a radically different theoretical status and social content than Marxian production prices.1
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Carchedi, G. (1998). Time and Equilibrium in Neoclassical Price Theory and Volume III of Capital. In: Bellofiore, R. (eds) Marxian Economics: A Reappraisal. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26121-5_8
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DOI: https://doi.org/10.1007/978-1-349-26121-5_8
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