From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Tue Sep 21 2004 - 07:45:21 EDT
--- Allin Cottrell <cottrell@WFU.EDU> wrote: > On Thu, 16 Sep 2004, ajit sinha wrote > (in response to Paul C on price equilibration in > pre-capitalist > societies) > > > But Paul, my point was that the income > differentials may become > > customary, so the customary prices may not reflect > labor-values. In > > my opinion, before the advent of classical > economics, and in this > > context Ricardo rather than Smith, the fair price > was calculated > > by,more or less, adding up established customary > returns. > > This seems to me an egregious confusion of the > thought object with the > real object. Ricardo articulated a theory of the > effects of market > competition: he did not invent such competition. ____________________ Allin, the idea that an idea does not come into being before the material conditions for it is ready is an aspect of historical materialism; and Marx uses it to suggest that why Aristotle could not come up with a theory of value in a slave society. Though I have some reservations about various aspects of historical materialism, I do not think that it is a nonsensical idea. Though I cannot talk about people's happiness, but it does make sense to me to think that there could be socities where conventions may play a dominant role--thus conventions determining the income levels and therefore prices rather than the other way round. I think conventions play significant role even in our present day economies as well but our education has made us blind to it. ____________________ > > I would require a lot of historical evidence before > I concluded that > people prior to the 19th century were perfectly > happy with "customary" > returns and did not seek out opportunities for > betterment, at least > over the long periods that Paul was talking about. ______________ I don't remember the context of Paul's post. I'm only reacting to what I had said. Cheers, ajit sinha > > Allin Cottrell > __________________________________ Do you Yahoo!? Take Yahoo! Mail with you! Get it on your mobile phone. http://mobile.yahoo.com/maildemo
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