The new solution

The ‘new solution’ is identified with Duménil (1980), Duménil and Lévy (1983), together with its independent discovery by Foley (1982) and Lipietz (1982). A useful introductory survey concerning the new solution has been offered by Mohun (1994). At the outset Mohun considers the claim that Marxian theories of value and price are contradictory. Mohun suggests that there are different types of contradiction in social science and that to describe a contradiction does not necessarily entail the social scientist has logically committed one (1994, pp.392-3). The dialectical methodology of Marx recognises three aspects to the theorising of such contradictions. First, it is necessary to reproduce in thought contradictions which are evident or underlie a class-divided society. Second, these oppositions should then be elaborated. Finally, Marx sought to distinguish between ‘essence’ and ‘appearance’ and maintained that the underlying structures and dynamics generate mystifying forms of appearance. The new solution, which Mohun advocates, seeks to connect the form of appearance (price) with the underlying structure (value).