A Critique of Kliman and McGlone’s Two-Commodity ‘Refutation’ of the Okishio Theorem
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In a recent book, Andrew Kliman claims to have “refuted the Okishio theorem”. However, there is a significant problem with Kliman’s numerical example, which invalidates his “refutation”. The problem is that the numerical example is a one commodity economy. Such a one commodity economy distorts the effects of technological change on the rate of profit. Kliman also claims that he and McGlone also disproved the Okishio theorem in the context of multiple sectors. However, Kliman and McGlone’s numerical example has only two commodities, and this two commodity example is very similar to the one commodity example in one crucial respect, which also invalidates Kliman’s “two commodity disproof” as well.
Abstract
In a recent book, Andrew Kliman claims to have “refuted the Okishio theorem”. However, there is a significant problem with Kliman’s numerical example, which invalidates his “refutation”. The problem is that the numerical example is a one commodity economy. Such a one commodity economy distorts the effects of technological change on the rate of profit. Kliman also claims that he and McGlone also disproved the Okishio theorem in the context of multiple sectors. However, Kliman and McGlone’s numerical example has only two commodities, and this two commodity example is very similar to the one commodity example in one crucial respect, which also invalidates Kliman’s “two commodity disproof” as well.
참고문헌 (3)
- Kliman,A, "Reclaiming Marx’s “Capital”: A Refutation of the Myth of Inconsistency" (2007), Lexington
- Kliman,A, "A Value-Theoretic Critique of the Okishio Theorem in Marx and Non-Equilibrium Economics" (1996), Elgar
- Kliman, A, "A Temporal Single-System Interpretation of Marx’s Theory", Review of Political Economy, 11(1) (1999)