From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Wed Feb 08 2006 - 04:01:46 EST
Ian Wright wrote: > > >F&M, and your good self, reject a premiss of the TP -- that is >realised uniform profit rates. No doubt uniform profit is unrealistic >and prices of production are "ideal" prices. The question remains, >however, why Marx's value theory doesn't appear to function as he >hoped/intended in this ideal case (at least according to the N-R >critique). > >Best, >-Ian. > > At the very least one should ask 'is M's theory an acceptable approximation to the truth'. As far as I am aware nobody has explicitly tested it. The literature comparing prices of production to values empirically, compares fully transformed prices to and values to market prices and to one another. Do you know of anyone who has tested M's procedure against real data? One would have to first compute labour values, then using these do an estimation of prices of production without transforming intermediate inputs. -- Paul Cockshott Dept Computing Science University of Glasgow 0141 330 3125
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