Michael Roberts - Marx’s so-called transformation problem in Capital

Michael Roberts worked in the City of London as an economist for over 40 years. He has closely observed the machinations of global capitalism from within the dragon’s den. At the same time, he was a political activist in the labour movement for decades.
Since retiring, he has written several books. The Great Recession – a Marxist view (2009); The Long Depression (2016); Marx 200: a review of Marx’s economics (2018).

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[nickjacobs]

so the R% is the rate of exploitation, if workers work 5 days, 2.5 days is for their wages and 2.5 days is the surplus value?

[thamalupiyadigama]

Has Michael Robert ever read Roemer's proof of Okishio theorem? :) When all capitalist introduce the new technology the high profit rates of the initial adopters will fall but still it would be a higher value than the old technology. That's what Okishio theorem says.

[ipfsscb]

Did you even read Sraffa? Sraffa uses reductions to dated labour as an aggregation method. His book's whole purpose was to show that you can't aggregate "capital" in prices.