[OPE-L:3300] RE: Re: objectivity of value

From: Michael Williams (mike.williams@dmu.ac.uk)
Date: Wed May 24 2000 - 07:20:17 EDT

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> -----Original Message-----
> From: owner-ope-l@galaxy.csuchico.edu
> [mailto:owner-ope-l@galaxy.csuchico.edu]On Behalf Of Paul Cockshott
> Sent: Wednesday, May 24, 2000 10:47 AM
> To: ope-l@galaxy.csuchico.edu
> Subject: [OPE-L:3299] Re: objectivity of value
>Paul C writes:
> This is a point where we part company, I would go along with Ajit
> in saying
> that the objective measure of value is labour time. This exists prior to
> sale as a
> property of the input/output matrix.

And Michael W. asks:

And what if no input-output matrix has been constructed?

> If one takes the opposite position whereby value only exists
> after it has been
> measured as price, you are philosophically on the ground of neo-classical
> subjectivist economics.

Can you justify this? Afer all, under competition all agents are assumed to
be price-takers?


"What is matter? - Never mind. What is mind? - No matter."

Dr Michael Williams
Economics and Social Sciences
De Montfort University
Milton Keynes

tel: +1908 834876
[Home: +1703 768641]
fax: 0870 133 1147

mike.williams@dmu.ac.uk <mailto:mike.williams@dmu.ac.uk>
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