RE: [OPE] The Labour Theory of Value: a Marginal Analysis

> Try telling the operator of a power station that the objective > heating power of coal must first be filtered through subjectivity and he > will think you are havering.
 
 
Hi Paul:
 
Tell that same worker that the value of the coal, in part, depends
on how much people are willing to pay for it at different prices,
then she or he would grasp the idea quite readily. Workers are
acutely aware of this because it relates to the precariousness of
their existence which arises (in mainstream economics terms) because
of the relation of demand to employment. The example of a power
station, though, might not be the best one since the demand for
power tends to be relatively price inelastic.
 
In solidarity, Jerry

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Received on Mon Sep 15 08:17:22 2008