Re: [OPE] CAPITAL AS POWER: free PDF download

On 2010-12-16 04:37, Allin Cottrell wrote:
>> Bichler& Nitzan's claim that "labour values, just like utils,
>> cannot be shown to exist" is hard to sustain.
> I agree, but "hard to sustain" is putting it mildly!
>

Leaving aside Nitzan & Bichler's poor criticism of Marxist political
economy for a moment. I watched Nitzan's presentation of 'Capital as
Power' which convinced me that their alternative framework has little to
offer since it rests on the most extreme form of historical-idealism.
'Power' rests simply on the beliefs of the agents! Nitzan admits this
when answering the first question during the Q&A, saying 'power
relations are only in our heads'.

Moreover, their criticism of the theoretical status of labour-value
becomes incomprehensible when one has a look at their own supposedly
measurable quantities 'normal rate of return', 'risk' and 'hype' (!).

//Dave Z
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Received on Sat Dec 18 18:45:18 2010