Abstract

MAITO, Esteban Ezequiel. Transformation of Values into Productions Prices: An Empirical Contrast for the Capitalist System. Ens. Econ. [online]. 2021, vol.31, n.59, pp.134-164.  Epub Dec 26, 2021. ISSN 0121-117X.  https://doi.org/10.15446/ede.v31n59.89304.

The objective of this article is to carry out a global empirical contrast of the so-called problem of transformation based on Moseley's recent contributions. In function of this, in the first part, an initial theoretical development was carried out of the value and price of production in consonance with the sequential and derivative developments that Marx carried out in Capital. In the second part, a global empirical contrast is carried out considering the seventeen largest national economies and 54 industries. Results show that, at a level of abstracting value, the rate of profit decreases as organic composition increases and the surplus value rate level is not related to the composition level. In terms of current market prices in concrete reality - on the other hand - the profit rate lacks an association with the organic composition, leveling out at the tendency established by the Marxian production prices through a strong positive correlation between the surplus value rate at market prices and organic composition as is established in Marxian theory.

JEL: B24; Ell; E20; F01; P10.

Keywords : production prices, profits rate; surplus value rate; value; organic capital composition.

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