ABSTRACT
This chapter deals with some parts of Karl Marx's analyses on prices of production and the general rate of profit, which were subjected to revision through the introduction of the notion "monopoly capitalism" by Rudolf Hilferding's Finance Capital and the subsequently formulated theories of Imperialism. It discusses the "problem of transformation of values into prices of production", which not only has become the point of departure for the formulation of a scorning critique to what is considered to be Marx's theory of value, but also continues until now to be a subject of dispute among Marxist economists. Competition makes it possible for the separate capitalist enterprises, the individual capitals, to constitute themselves and function as social capital. Marx's theory of the social capital includes an approach to the problem of expanded reproduction of the capitalist economy. The Neoricardian formalisation was also employed subsequently for criticism of the Marxist theory of value.
