From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Jun 05 2003 - 10:42:04 EDT
Ernesto Screpanti wrote: > Problem: > > When the organic composition of capital is not uniform, production prices > are different from labour values. > Is it possible to say that the greater the dispersion of organic > compositions the higher the differences between prices and labour values. > In other words: is it true that the price-value differences are an > increasing function of the differences between the actual and the average > organic composition of capital? > There is some evidence to support this. Values are generally equally good as or better than production prices as estimates of market prices. This is supported by a number of studies. but there is a positive correlation between o and m/v where m= market price v= value of a commodity o = organic composition of the capital used in making it. This result is supported by investigations that I have done with Allin. What is interesting is that the correlation is not a strong as predicted by the theory in volume III of capital. Actual prices seem to be about half way between untransformed values and fully transformed prices of production. > > My intuitive answer is Yes. But I do not trust intuition so much. > > Does anybody know if that proposition was proved by somebody? > > Ernesto -- Paul Cockshott Dept Computing Science University of Glasgow 0141 330 3125
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