Re: [OPE] Market socialism [the false assumption of the law of value]

From: Alejandro Agafonow (
Date: Thu Jul 10 2008 - 03:19:45 EDT

WRIGHT: >>No-one can predict the precise trajectory of an individual bird. But
that's not an argument for denying the law of gravity.<<

Zachariah seems to think that he is able to predict the trajectory of prices, as is deduced from his accusation of our inability (market socialists and Austrian economists) to make this predictions. But I can understand that you have some differences. So you, WRIGHT, don’t state the capacity to make prediction and you don’t expect either the final equalization of labour values and prices.
So you are in a position similar to the “imperfect competition” trend of neoclassical economics. They don’t expect a final Pareto equilibrium, but they don’t understand the usefulness of disequilibria as I said about you in this mailing list and in my paper.
Have I to repeat my criticism to your social error signals? 
Kind regards,
A. Agafonow

----- Mensaje original ----
De: Ian Wright <>
Para: Outline on Political Economy mailing list <>
Enviado: jueves, 10 de julio, 2008 7:23:07
Asunto: Re: [OPE] Market socialism [the false assumption of the law of value]

> No one is able to predict the trajectory of prices because
> entrepreneurship action and changes of preferences introduce non
> tractable uncertainty in the system.


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