From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Mon Jul 03 2006 - 15:25:12 EDT
Thanks again for the refs, Ajit. However, I'm not sure if I'll be reading the Westra book anytime soon, as libraries here don't have it and I'm a bit iffy about spending $75+ on a copy... I'm not a rich academic or anything. Dutch libraries have, shall we say, somewhat "ideosyncratic" collection policies as regards foreign literature, even so, not many libraries anywhere seem to have it. The odd thing is that even within the Marxist camp few authors actually agree about what the "law of value" is, and the conditions under which it would hold. It seems to be not just a question of specifying the meaning of value, but also of prices. I've been dipping into a book by Aganbegyan which discusses pricing policies in the former USSR, and you realise very clearly that there's much more to prices, pricing and markets than you would learn from e.g. Friedman or Stigler, i.e. much depends on the institutional framework of property rights and division of labor that prevails. Jurriaan
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