Marxian Economics: A Reappraisal Volume 2: Essays on Volume III of C
Springing from a conference held in Bergamo University on the occasion of the centenary of the publication by Engels of the third book of Capital, the papers collected in these two volumes reinstate Marx's as the first genuinely evolutionary economic theo
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Marxian Economics: A Reappraisal Essays on Volume III of Capital Volume 2: Profits, Prices and Dynamics
Edited by
Riccardo Bellofiore
Department 0/ Economics University ofBergamo Italy
First published in Great Britain 1998 by
MACMILLAN PRESS LTD
Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library.
ISBN 978-1-349-26123-9
DOI 10.1007/978-1-349-26121-5
ISBN 978-1-349-26121-5 (eBook)
First published in the United States of America 1998 by
ST. MARrIN'S PRESS, INC.,
Scholarly and Reference Division. 175 Fifth Avenue, New York. N.Y. 10010 ISBN 978-0-312-17665-5 Library of Congress Cataloging-in-Publication Data Marxian economics : a reappraisal/edited by Riccardo Bellofiore. p. cm. Includes bibliographical references and indexes. Contents: v. I. Essays on volume III of "Capital" : method, value. and money - v. 2. Essays on volume III of "Capital" : profits, prices. and dynamics . ISBN 978-0-312-17664-8 (vol. I). -ISBN 978-0-312-17665-5 (vol. 2) I. Marxian economics. 2. Marx. Karl. 1818-1883. Kapital. English. I. Bellofiore, R. (Riccardo) HB97.5.M33426 1997 335.4'I---dc21 97-17608 CIP
Selection and editorial matter © Riccardo Bellofiore 1998 Text © Macmillan Press Ltd 1998 Softcover reprint of the hardcover 1st edition 1998 All rights reserved. No reproduction. copy or transmission of this publication may be made without written permission . No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages . The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright. Designs and Patents Act 1988. This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. 10987654321 07 06 05 04 03 02 01 00 99 98
Contents Notes on the Contributors
vii
Introduction by Riccardo Bellofiore
xi
Acknowledgements
Part I
xxv
Prices and Values
1 Profitability, Prices and Values
3
Meghnad Desai
2 Marx's Logic in Capital and the 'Transformation Problem'
14
Fred Moseley
3 Value, Exchange Value and the Internal -Consistency of Volume III of Capital: A Refutation of Refutations
29
Andrew J. Kliman
4 The Transformation Trinity: Value, Value Form and Price
43
Antonio Callari, Bruce Roberts and Richard Wolff
5
Socially Contingent Value
57
Carole Biewener 6
Does Marx Need to Transform?
70
Paul Cockshott and Allin Cottrell
7 The Distinction between Social Value, Individual Value, Market Value and Market Price in Volume III of Capital Chai-on Lee 8 Time and Equilibrium in Neoclassical Pri
