SHERP

A Note on the So-Called ‘Double Counting' Problem in the Transformation Procedure

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Authors
Rieu, DongMin
Issue Date
1997
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 10 (No. 1 1997): 83-94
Keywords
transformation; constant portion; Morishima
Abstract
The purpose of this paper is to clarify the problem of double counting of the profit contained in the elements of constant capital. This problem is getting more and more important because most recent vindicators of the labor theory of value maintain that the value of constant inputs should be defined as the price at which they were purchased. I will show that the value definition newly adopted does not hold without unreal assumptions which have already been explored in the value debate in 1970s.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1097
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.10(1) (Spring 1997)
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