Re: [OPE] still another alternative to value theory

On 2010-05-08 22:39, Paul Cockshott wrote:
> Money as the power to command the labour of others is a concept in Smith.
>

It's been a while since I read some of Nitzan and Bichler's work. But as
I recall, for all their talk of 'power' there was no rigorous
theoretization of the balance of forces between economic agents. While
they have made some interesting points about conflicts in the Middle
East, it seems to me to be an entirely capital-centered framework that
is supported by visual correlations between curves in a plot.

I think it is true that Marxist political economy on the whole was
relatively weak on the interaction between finance and
production---modeling the former as some sort of epiphenomena---but this
has certainly changed during the past 10-20 years or so. Dumenil & Levy
present a far better theoretical framework of global capitalism than
Nitzan & Bichler.

//Dave Z
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Received on Mon May 10 16:34:25 2010