This text is an appendix to Anwar Shaikh, “Marx’s Theory of Value and the ‘Transformation Problem”’, in Jesse Schwartz (ed.), The Subtle Anatomy of Capitalism (Santa Monica: Goodyear Publishing, 1971), pp. 106-39. Other than through a link on the “Real Economics” webpage, I am unaware of its publication elsewhere. The text accessible at this link is a copy of a manually-typed and hand-annotated original; since it is such a seminal contribution to a crucially important debate, I have decided to retypeset it in more legible form.

The text here is as close to the original in layout and content as has been possible to produce. Several obvious errors have been corrected: corrections are indicated through editorial footnotes, whose markers appear, as do my own interpolations, in square brackets. Comments related to this version of the text should be addressed to its editor, Ed George, at edgeorge1963@gmail.com.

More (pdf, 162 KB): Marx’s Theory of Value and the Transformation Problem: Mathematical Appendix