>Jerry writes in 4942 > >Since you go on in your post to refer to the "real world", are you aware >that since disequilibrium is the norm within any capitalist economy (and >aggregate supply and aggregate demand only equal each other rarely and >fleetingly), then by your definition prices of production rarely, if ever, >happen? This is a legitimate position, of course, but I wonder if you are >aware of the implication. > >In solidarity, Jerry I think this is a strength of my interpretation. But more generally how are we to understand the relation between market prices and prices of production? I would reject Fred's quasi-Hegelian emananistic or essentialistic logic by which the price of production is the inner necessity and market price merely an outer contigency. This epistemo-logic is more than a copy theory of knowledge; it is an identity logic in that the claim here is that the more capitalism develops and eliminates residues of earlier economic conditions--i.e., the more capital and labor mobility are achieved--the more does the approximation (market prices) approach the pure form (prices of production). I would recommend some Kantian skepticism here so that we remain aware of the one-sidedness in any relation between the concept and the conceived. Yours, Rakesh
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