12 SOCIAL SCIENTIST Advanced capitalism coming into contact with pre-capitalist modes in other countries has created underdevelopment in the latter. Marx had visualised worldwide development of capitalism, and the emergence of socialism at the pinnacles of capitalist growth. But history has taken a different course. The chain of world capitalism has snapped at its weakest links. Contrary to the classical Marxian scenario, 'socialism in one country' has come on the agenda of history.Restoration of capitalism in the heartland of socialism is no longer an inconceivable phenomenon. While research on the economics of capitalism as such has to continue, Marxian political economy must turn its attention to these areas which are yet to be theoretically explored. Otherwise, we will be overtaken by the march of history; and the mission of 'making^ history will remain an idyllic Utopia. 1 F Wolfstetter, Surplus Labour, Synchronised Labour Costs and Marx's Labour Theory of Value', Economic Journal. September 1973, p 788. 3 lan Steedman, Marx after Sraffa, NLB, 1977. 8 P Sraffa, Production of Commodities by Means of Commodities, Cambridge University Press, London, p 15. 4 Steedman, op cit., pp 105-9. 8 Ibid, pp 136-201. <* Ibid,pp 151-54. 7 John von Neumann, 'A Model of General Economic Equilibrium', Review of Economic Studies. 1945-46. a Steedman, op cit., p 145. 9 tbid, p 146. 10 Recently a symposium was held on this question; vide G C Harcourt (ed) TheMicro" economic Foundations of Macroeconomics, Macmillan, London 1977. But none of the papers even touched on the basic problem, let alone solving it. n Sraffa, op cit., p 15; emphasis added. The 'further complications^ which are treated subsequently by Sraffa arise due to joint production and fixed capital which we have already dealt with. 18 K Marx, Capital, Vol 3 Progress Publishers, Moscow 1966, pp 201-2. 18 Steedman, op cit., p 109. 14 J F Roemer, technical Change and the Tendency of the Rate of Profit to Fall* Journal of Economic Theory, December 1977, p 407 16 Steedman, op cit., pp 37-68. 18 A Shaikh,'Marx's Theory of Value ;and the] "Transformation Problem" *(mimeo), New York, 1976; M Morishima, 'Marx in the Light of Modern Economic Theory*, Econometrica, July 1974. 17 R Sau, Trade Capital and Underdevelopment ^Towards A Marxian Theory (forthcoming) chapter 8.