LA DÉFENSE DE LA THÉORIE DE LA VALEUR-TRAVAIL PAR JERZY SZUMSKI
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JERZY SZUMSKI'S VALIDATION OF THE LABOR THEORY OF VALUE
In a recent issue of this Journal Jerzy Szumski (Vol 13(3) pp. 431-52) suggested a new solution to the transformation problem and claimed that he had, thereby, provided a relevant validation of the labor theory of value. The purpose of this comment is to first present Szumski's solution in a condensed form, using a more traditional formalism, and to explicate the exact nature of his computation. The main conclusion which is derived is that Szumski only provides a procedure for the computation of values from an input-output table. We then contrast Szumski's analysis with our view of the meaning of the labor theory of value in relation to the Duménil-Foley interpretation of the transformation problem.
G. Duménil, D. Lévy, "Jerzy Szumski's Validation of the Labor Theory of Value", 1991, Cambridge Journal of Economics, Vol. 15(3), pp. 359-364.