On Thu, 10 May 2001, Gerald_A_Levy wrote: > Re Paul C's : > > > Without a causal and hence predictive theory > > of price one can have no basis for the theory > > of relative surplus value, to take just one > > instance from Marx's work. I could equally > > well have said no theory of differential ground > > rent... > All of the above identifies a causal theory with a predictive one. > One can, however, have a theory in which causal relationships are > identified but (e.g. because of the quantity of unknowns) one > which does not claim to be predictive. I think this is a misunderstanding. A causal theory is capable of generating predictions _conditional_ on knowledge of the values of the theory's "independent variables". If these values aren't in fact known then one can't make _actual_ predictions, but that doesn't mean the theory is non-predictive in the sense Paul is using. Allin.
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