[OPE] Re: Are Regulation Theorists Marxists?

I believe the foundation of Marxian economics is the contention that profits originate in the surplus labour of workers. Price theories, including the LTV, are secondary to this. Price theories must be consistent with this and of course the LTV is. But so is Sraffan theory as are similar cost theories. And cost theories can be reduced to dated labour, so they are not a radically distinct alternative to the LTV. Marxian history starts with the contention that all history is the history of class struggle. Perhaps this straddles Patrick B's two tendencies.

Regarding regulationists: French regulation theory started as Marxist. Most French regulationists no longer consider themselves Marxist and are instead pursuing a variety of institutionalism though a few remain loyal. More Marxism can be found in the Anglophone regulationist perspective working mostly in economic geography and sociology and political science.

Terry McDonough

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