[OPE-L:7369] RE: Re: RE: Re: interpreting Marx's texts

From: mongiovg (mongiovg@stjohns.edu)
Date: Sun Jun 09 2002 - 16:50:33 EDT

A brief reply to Diego.

>I disagree with you in the second part of your paragraph. The real wage you
>seem to have in mind is not the actual "real wage", but a kind of wage
>deflacted with theoretical production prices. As you have to accept
>therefore a difference between actual and normal rates of profit, why do not
>you accept another difference between the direct-price-rate of profit and
>the production-price-rate of profit, with the former acting as the regulator
>of the latter? This is one of the reasons why Marx is above Smith and

My main reason is that I believe the textual evidence (which Fred, in various 
publications, has very usefully assembled) supports the view that Marx's 
conception of the profit rate was not subtantially different from Ricardo's or 
Smith's.  I'm not entirely clear about what you mean by direct price, but if 
it corresponds to actual observed market prices then I think all the problems 
with the TSS reading come into play.




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