The so-called “transformation problem” revisited: A comment

Abstract

This comment shows that Lipietz's Marxist transformation theorem represents but a simple, though useful reinterpretation of obvious mathematical consequences of a standard Sraffa model—by making appropriate use of its known degree of freedom. Labor values are not involved in this new interpretation of conventional prices of production. A proposal is therefore made how their role in Marx's transformation may be investigated further on the basis of Lipietz's theorem and its interpretation of the “value of labor power”.