Patrick, Here, Here! Yes, how much time and effort has been lost in trying to solve the Transformation 'Problem." Did Bohm Bawerk know how much damage he was doing when he made his challenge.
From: [email protected] [mailto:[email protected]] On Behalf Of Patrick Bond Aren't there a great many ways that irrationalities in capitalism introduce deviations of price from value? Isn't that one of the ways you can see how failing to solve the Transformation Problem in Das K was less an indictment of Marx - and more an indictment of a capitalist system that regularly directs investment capital into places that are suboptimal (or often counterproductive) from the standpoint of generating surplus value? (Like rentier activity, or excessively capital-intensive production?)
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