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Review of Radical Political Economics
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The "New Solution" to the Transformation Problem: A Sympathetic Critique

Fred Moseley

Department of Economics, Mount Holyoke College, S. Hadley MA 01075 fmoseley{at}mtholyoke.edu

This paper critically evaluates the "new solution" to the transformation as presented by Foley and Dumenil and others, from the perspective of the author's "macro-monetary" interpretation of Marx's theory. The main issue emphasized is the method of determination of the inputs of constant capital and variable capital in Marx's theory-whether these inputs are taken as given as quantities of money capital or derived from given quantities of physical goods.

Key Words: Marx • Sraffa • Transformation problem

Review of Radical Political Economics, Vol. 32, No. 2, 282-316 (2000)
DOI: 10.1177/048661340003200205
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This article has been cited by other articles:


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 Review of Radical Political EconomicsHome page
F. Moseley
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D.-M. Rieu
A Reexamination of the Quantitative Issues in the New Interpretation
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 Review of Radical Political EconomicsHome page
B. Fine, C. Lapavitsas, and A. Saad-Filho
Transforming the Transformation Problem: Why the "New Interpretation" is a Wrong Turning
Review of Radical Political Economics, March 1, 2004; 36(1): 3 - 19.
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