[OPE-L:2028] RE: Re: A possible paradox in the theory of value

From: P.J.Wells@open.ac.uk
Date: Tue Jan 04 2000 - 18:12:38 EST

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I think the various responses to Paul's original message suggest that the
question he raised isn't paradoxical, at least in the sense in which (e.g.)
Russell's set-theory paradoxes are paradoxical.

But two more general questions suggest themselves:

(1) can a dialectical theory such as Marx's indeed be the victim of paradox
in the above sense?

My intuition would be that it can't.

(2) are there any genuine paradoxes in other economic schools of thought?

All the alleged paradoxes that I can think of offhand seem to be really

(a) counter-intuitive theorems (e.g. the Keynesian paradox of thrift), or

(b) inconvenient empirical refutations of dogma (e.g. the Leontief paradox).

Game theory strikes me as a possible source of genuine paradoxes -- any


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