I published an article pertaining to the transformation problem.
Someone posted a version of my Cambridge Journal article on the Web.
http://www.ucm.es/wwwboard/bas/messages/223.htm
On Fri, Mar 30, 2001 at 11:49:08PM -0500, Andrew Hagen wrote:
> On Fri, 30 Mar 2001 17:57:06 -0600, Forstater, Mathew wrote:
>
> >I haven't been following this thread (multiple apologies), but what was wrong
> >with Shaikh's solution? [....]
>
> The New Palgrave entry on "Transformation Problem" argues that the solution given in
>Shaikh's 1977 paper did
> not have total surplus value equal total profit. Additionally, the further
>development in the 1984 paper is
> susceptible to criticism that it assumes balanced growth, which is fine for a von
>Neumann system where that is
> an expected property, but not for "a real economy where balanced growth is not
>satisfied."
>
> I'm not sure, but I think Shaikh and his students have probably improved his theory
>since then, or addressed
> this criticism.
>
> Andrew Hagen
> [EMAIL PROTECTED]
>
>
>
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
