Re: [OPE] peanut butter value-form theory

2009/4/7 Alejandro Agafonow <alejandro_agafonow@yahoo.es>

>
> The link that you provided doesn’t say anything about the ‘worth’ of
> resources.
>

Alejandro, what does the "worth of resources" mean to an agent, whether
human or not? It means precisely that the resources are commensurable by
means of a metric: 'economic value'.

> I’m not suggesting that each production process in a capitalist economy is
> directed by an entrepreneur,
>

That, however, is the implication of your constant reference to the mythical
entrepreneur who is responsible for the dynamism of a capitalist economy in
your theory.

> these entrepreneurs have not confirmed the predictions of the labour theory
> of value.
>

Then you have not kept up with the empirical research on the issue since
1984:
Prices are highly correlated with labour values. Moreover, sectors with
higher capital intensity earn lower rates of profit.

This is what the stochastic labour theory of value predicts.

//Dave Z

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Received on Tue Apr 7 05:24:03 2009