Re: [OPE-L] Unequal Exchange "without recourse to the notion of 'value'"?

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Thu Jan 18 2007 - 09:21:19 EST

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> I understand your point, but it's still unclear to me how, if you assume a
> marginalist concept of value (as an expression of intensity of subjective
> preference for a good or service), an economic exchange could be said to
be
> a trade of unequal values at all - wouldn't it simply be a difference in
> subjective perceptions?

Hi Jurriaan:

That's a problem for dependency theory.  Expressing the problem somewhat
differently, I would say that dependency theory is a form of
*institutionalism*
yet it also implicitly and/or explicitly assumes basic *marginalist*
propositions.
The problems then arise because of the limitations of institutionalism and
marginalism and their inability to be successfully wedded to each other.

In solidarity, Jerry

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