English, Article, Journal or magazine article edition: UMA REFLEXÃO SOBRE O CONCEITO DE CAPITAL A PARTIR DA CONTROVÉRSIA DE CAMBRIDGE Rodrigo Alves Teixeira

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Bookmark: http://trove.nla.gov.au/version/124866
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • UMA REFLEXÃO SOBRE O CONCEITO DE CAPITAL A PARTIR DA CONTROVÉRSIA DE CAMBRIDGE
Author
  • Rodrigo Alves Teixeira
Physical Description
  • preprint
Notes
  • In this paper we analyze the concept of capital, using as starty point the Cambridge Controversies in the theory of capital. In the first section, we present neoclassical views regarding the concept of capital, mensuration of marginal product of capital and the theories of distribution, investment and growth. In the second section, we discuss the criticisms to neoclassical theory, which had comprised the Controversy of Capital. We try to show that Samuelson (1962), in defense of neoclassical theory, has to adopt the same hypothesis that would solve the transformation problem of values in prices of production in theory of labor value. We argue that the difficulties in the theory of labor value remains in neoclassical theory, because the supply side of marshallian theory brought back the objective production side to theory of prices, taking out the purely subjective conception of marginal utility, bringing in again theoretical problems congenial to classical economists. In the third section, we analyze the concepts of value, money and capital in Marx, to understand his solution to the transformation problem, and to show that this solution requires to see capital as a social objet - and not as a mere factor of production (a physical object) - and can be understood only whith a change in logical conception, goingbeyond the limits of formal logic to engage in a dialectical approach.
  • RePEc:anp:en2004:009
Language
  • English
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