Preface page xv
Introduction 1
PART ONE. CAPITAL. PRINCIPLE FEATURES OF THE MARXIAN “CANON”
1 Value and Distribution 11
A Introduction 11
B On “Demand-Supply” Analysis 13
C TheTransformation of Values into Prices: Formal Analysis 17
D The Transformation and the Allocation Mechanism 23
E Competition Constrained: Land Scarcity and Firm Size 28
F On“MarketValue” and Competition 31
G The InverseWage-Profit Relation and Profit-Rate Equalization 38
H Materials, the Luxury-Goods Sector, and the General Profit
Rate 40
I The Rate of Surplus Value as Endogenous Variable 42
J More on Final Demand and Distribution 46
K Marx’s Strategy 48
L Concluding Comment: The Baumol-Samuelson Exchange 53
2 Elements of Growth Theory 55
A Introduction 55
B Setting the Stage: Stationary Reproduction as Circular-Flow
Process 55
C Capital Accumulation 59
D Determinants of the Rate of Accumulation 61
E The “Simple Reproduction” Scheme 68
F The“Extended Reproduction” Scheme 75
G Concluding Comment 83

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