Kliman responds

[Michael McIntyre]

Well, never say it can't be done until you've seen how someone proposes to do it, I suppose, but HOW does Marx's derivation of price from value work if you remove the equilibrium constraint?  All Marx did in Vol. III was postulate a set of prices for a commodity and derive value as the mean price.  But, of course, you need to run the chain in the opposite direction if you want to show that price depends on value, not vice versa.  I won't say that the transformation problem can't be solved, but as far as I know it hasn't been yet, and I still don't see where this line of inquiry leads.

Michael McIntyre