[OPE-L:3336] Re: objectivity of value

From: Chai-on Lee (conlee@chonnam.ac.kr)
Date: Thu May 25 2000 - 00:37:28 EDT

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Michael Perelman said:
Rakesh, one of the problems with the Sraffa system is that if you change
the degree of vertical integration, then the price system changes. For
example, if farmers buy seed from seed companies, prices are different
than when they are when farmers produce their own seed.


In Sraffa's, the price of grain will be the same even if the seed was bought from other producers. When the farmer produces both grain and seed, the input price should be calculated as a shadow price. Every piece of capital should deserve equal opportunity cost. Equal rates of profit must apply the same way. Mustn't they?

In solidarity


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