@Outsideness the labour theory of value predicts that the prices of commodities will vary proportionately with their labour content. Refuting this should be easy, just show that in fact their prices do not vary with labour content in this way. Have you any proof?
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Except that I literally told you that the other day? I know that Marx in places, but not consistently, accepted Ricardo’s hypothesis of profit rate equalization. He was willing to drop it in cases where he had empirical data, for railways for example.
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But the hypothesis of an equal rate of profit for capitals of different compositions was just an assumption. If it turns out to be false, then there is no transformation problem. It is hypothetically possible that in the 19th century there was an equal rate of profit for
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The price data he mentions downthread, is it irreconcilable with this or does it, because it’s proportional, fit within a transformation model.
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