Re: [OPE-L] The importance of the sraffian standard system in relation with the transformation problem

From: Ian Wright (wrighti@ACM.ORG)
Date: Tue Apr 24 2007 - 17:04:18 EDT

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> However, as far as I know,  it has not been stressed, in my opinion, the fact that it is
> not simply a special case in which the marxian transformation holds. This
> situation is precisely the case in which the system reproduces, having a
> surplus in the exact demanded input quantities and with no waste or scarcity
> of new inputs (replacing previous consumed constant capital and adding new
> investment that cover all surplus).

Dear Vicenç,
Sorry I cannot open Excel files. But if I recall correctly, an economy
in Sraffa's "standard proportions" is indeed growing at its maximum
possible rate. In this case, prices of production are proportional to
standard labour-values, hence no transformation is required. This is a
known result; I think Morishima discusses it.
Best,
-Ian.

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