But this does not imply, I feel, that there is nothing to the idea that
labour productivity is an important determinate of "production prices" or
"market prices". Gil is right to say that there is simple functional
relationship between values and production prices (as he says varying the
wage rate will vary prices of production but not values). It does not
follow though that labour saving is not an important(even the most
important dynamic) social co-ordination function of price competition in
market economies.
Dr Ian Hunt,
Associate Professor in Philosophy,
Director, Centre for Applied Philosophy,
Philosophy Dept,
Flinders University of SA,
Humanities Building,
Bedford Park, SA, 5042,
Ph: (08) 8201 2054 Fax: (08) 8201 2556