Allin, I'm sorry I forgot to mention that v, p, L, and X are vectors and
A is a matrix. Your derivation therefore doesn't work. In general,
p(t+1) not= v(t+1), though p(t+1)X = v(t+1)X and total profit, p(t+1)X -
p(t){A+bL)X = total surplus-value, LX - p(t)bLX.
Andrew Kliman