[OPE-L] Truncating Marx's "Capital"

From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Sat Sep 01 2007 - 08:39:26 EDT

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I do not think the transformation problem is a "red herring", insofar as it aims to understand what the relationship between values and prices really is, and how this affects the process of competition.

It is just that in my opinion

- most participants in the debate ignore Marx's own concepts, intentions and theory to some extent or other
- they understand very little about accounting theory
- they understand very little about capital finance
- they understand very little about the phenomenology of prices, and do not inquire into it.

If it is not possible to make any empirical prediction on the basis of Marx's value theory, and if value theory cannot be tested against observables in principle, it is not a scientific theory.

Jurriaan

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