The transformation non-problem and the non-transformation problem

Abstract

Most criticisms of Marx's attempt to solve the transformation problem focus on his failure to separate value and price calculations. It is argued here that there is nothing wrong with Marx's approach once it is construed as an exercise in dialectics rather than some attempt to map mathematically values on to prices. Consequently, much of the debate over values and the transformation of values has been wrongly directed at matters of mathematical technique when the real issue concerns one of method.