Socialism or state capitalism? The transformation problem and the theoretical defense of Chinese “socialism”
Published online on June 23, 2026
Abstract
Capital & Class, Ahead of Print.
This essay revisits the transformation problem in Marxist economics and its implications for contemporary Sraffian defenses of “Chinese socialism” that separate profit from exploitation. It critiques Sraffian-derived interpretations of the transformation ...
This essay revisits the transformation problem in Marxist economics and its implications for contemporary Sraffian defenses of “Chinese socialism” that separate profit from exploitation. It critiques Sraffian-derived interpretations of the transformation ...