In a response to Ramos, Paul says (amongst much else:
> So long as the analysis was presented
> in terms of production prices, it was not evident that
> firm a was less socially efficient than firm b. Value
> analysis immediately brings this out.
I wonder if the source of the difference between Paul and the SS comrades may
not lie in Paul's assumption that 'social inefficiency' (in labour time terms)
is typically a source of instability in a capitalist economy. Since a capitalist
economy is driven by decentralised profit 'maximising' iaw monetary prices and
costs, typically under imperfect competition, is such an assumption
sustainable??
Michael
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Dr Michael Williams
"Books are Weapons"
Department of Economics Home:
School of Social Sciences 26 Glenwood Avenue
De Montfort University Southampton
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email: mwilliam@dmu.ac.uk 100417.2625@compuserve.com