Die moderne ökonomische Theorie und die Kapitaltheorie von Marx

Abstract

This article examines Marx’ contribution to the development of economic theory covering the notion of equilibrium, input-output analysis, aggregation, the theory of price determination and distribution. It argues that the so called transformation problem usually related to Marxian theory proves to be a special kind of the more general aggregation problem, which forms a component part of any theory of prices. As changes in the distribution of income generate a new system of prices thereby affecting aggregate values, the distribution of income and the level of economic activity are disconnected.