[OPE-L:1143] Re: individual prices in Volume 1

Duncan K Foley (dkf2@columbia.edu)
Tue, 20 Feb 1996 06:06:07 -0800

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Duncan, in reply to Fred:

1. I am certainly not claiming that Marxian theory is the same as
neoclassical theory, I just said Marx's theory of surplus value was
consistent, in my interpretation at least, with the neoclassical theory
of relative pricing.

2. In order to change the wage in neoclassical GE, you have to change the
supply curve of labor (which in many cases is taken to be vertical as a
function of the real wage, for example, in Solow's growth model.)