"I must take the occasion to apologize for a major omission from my article, my failure to give credit to Professor Thomas Sowell for two excellent discussions on Marxian economics which I have only recently come across. While he does not deal explicitly with the transformation problem, his discussion of Marxian value theory, which is documented with exquisite care, comes to conclusions very similar to my own on the tautological nature of the value theory and on the nature of Marx' interests in the subject. Though he does sometimes speak of value theory as a first approximation [3,1967, p. 66] he makes it clear that Marx always considered the deviations between prices and values to be systematic [3, 1967, pp. 65-6]. I recommend these pieces unhesitatingly as models of Marxian scholarship."
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Academics from the United StatesPhilosophers from the United StatesEducators from the United StatesPeople from North CarolinaEconomists from the United States
Original Language: English
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Sources
William J. Baumol, "The Fundamental Marxian Theorem: A Reply to Samuelson: Comment", Journal of Economic Literature, Vol. 12, No. 1 (Mar., 1974)
https://en.wikiquote.org/wiki/Thomas_Sowell
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Thomas Sowell
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