this post was submitted on 04 Jul 2025
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Give me a bit to write it up and I'll send you what I got!
But, I wanted comment on something you mentioned before I go.
I don't think that's a naïve interpretation, and in fact I think the insight there is spot on! When I say that natural prices are those prices that allow for the system to reproduce itself, I do mean the capitalist system. So natural prices under a capitalist formation must be able to reproduce the class exploitation of the capitalists (and hence their consumption), else it isn’t capitalism that is being reproduced.
In fact, bringing this insight into a definition of value is something that Ian Wright has done, and is part of his solution to the transformation problem, i.e. how to get natural prices from value. Essentially, his argument as I understand it is that one can create an extended measure of value that includes the labor required to cover products made for the owner’s consumption (surplus value), and that this extended measure of value is still a measure of value, just through lens of your insight. This extended measure of value is still measured in labor-hours, and is commensurate with prices under capitalism because while the surplus labor is not necessary for the workers, it is necessary for the system of capitalism to reproduce itself.
Though, like I mentioned before the transformation problem is worth its own post. And this is one solution, of many proposed, for the transformation problem.
The rest of your question was on the uniqueness of the solution
and I'll respond with a write up on solving for natural prices with the framework I'm most familiar with.
Just want to let you know that I'm still very much interested (and I won't lose interest so there's no rush), but also, no pressure! if life gets in the way or you run out of steam it's all good! Thanks either way. It's a potentially laborious effortpost, on a niche forum, in a small thread where I might be the only person who reads it. Stoked if you do but 110% understand if you don't.
I'm in the process of writing it up. I'm starting with a pure labor economy (simplest model and lays the foundation) and building it up from there. Not yet, finished but I am working on it.
And you may be the only one who reads it
but I've been wanting to write something like this up for a while anyways
Hopefully I dont get back to you within a year with some massive tome
Hell yeah
godspeed
Hey I just wanted to let you know that I am mostly done with my write up, but still need some finishing touches. I haven't forgotten about it.
It's gotten long, so I'm debating on whether to make it a comment or a separate post.
But it discusses how to set up equations to solve for the physical quantities and their prices in a Sraffian framework (while trying to tie it back to Marx)
I'm not the best writer so it may be long winded. Editing it would take a bit longer, but I sorta just want to get it done with lol.
It starts with just an overview of equilibrium in the classical vs the neoclassical schools, and then it builds up the framework starting with a pure labor economy. I add in means of production, and then finally include an exploiting class.
Value is briefly discussed, but not in great detail. I think I may end it by hinting at the transformation problem, showing research in this school that attempts to resolve it, and also showing some attempts to make a format dynamic model.
A lot of work, or the hinted future direction, is based off Ian Wright's work as reading his papers was my entry way into this.
Thanks so much for taking the time! I'm very interested to read it
With this much effort, you should consider making a separate post so more people might see it — unless that means too much pressure to edit it
That could always be a separate post if you get around to it. Certainly there'd be people who didn't see it the first time, or people who'd appreciate an edited version
I think I'll make it a post, simply because it's too long for a comment. Thanks for understanding and also for your patience!