Price, value and profit – a continuous, general, treatment

This text comprises chapter 13 of Marx and non-equilibrium Economics[1]. It provides a general mathematical specification of a non-equilibrium interpretation of Marx’s theory of value. It refutes the Okishio theorem and solves the transformation problem. It is a foundation work of scholarship within the TSSI (temporal single-system interpretation) of Marx. It specifies temporal values within a continuous-time framework as opposed to a discrete-time framework, and shows how to pass from discrete or serial time (difference equation, sequential) formalisations to continuous (differential equation, temporal) formalisations of the conservation of value. [1] Freeman, A. and Carchedi, G. (eds) (1996), Marx and Non-Equilibrium Economics, pp1-29. Cheltenham: Edward Elgar. ISBN 1 85898 268 5.