Seminar: Value redundancy and price value deviations

From: Alejandro Valle Baeza (valle@SERVIDOR.UNAM.MX)
Date: Tue Sep 21 2004 - 15:09:15 EDT 





  
  




One important aspect  of Paul Cockshott's paper  is which are
convenient measures for value price deviations. However critics to
labor theory of value argue that measuring value price deviations 
show  why is value redundant. One good example of this sort of thinking
is W. Paris (1982):




Parys predicts
discrepancies between labor values and production prices using
technical
compositions of capital vertically integrated in production-price
terms.  Pary's two main arguments are: 


     a)
A mathematical demonstration that technical composition of capital
vertically
integrated in price always predicts correctly the sense of
deviations between labor
values and production prices.


     b)
A counterexample probing that the value composition of capital, the
variable
used by Marx ,fails in at least one case to predict sense of deviations
between
labor values and production prices.

Then
this is a critique that seems be both
irrefutable and very well argued that way inaugurated by Ian Steedman
of
considering redundant and contradictory the Marxian theory of value.  







Parys,
W. (1982). "The Deviation of Prices from Labor Values". American
Economic Review: 72(5), pp. 1208-1212.





  

  














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