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

GERALD LEVY wrote:
>
>
>
> In any event, the use-value that you are referring to can not be known
> ex ante.
>
> It can only be known ex post - when and if the commodities are sold.
> This is
>
> the case in general with market activity - risk and uncertainty are
> inherent
>
> characteristics of markets. This is - from a macro perspective - an
> inherently wasteful
>
> and inefficient method for determining the distribution of resources.
>
>
 No, surely the managers of power stations can have samples of coal
burned in a calorimeter prior to
taking delivery to get a good estimate of their use value.
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Received on Wed Sep 17 08:55:39 2008